The naira is trading around the mid-₦1,300s per dollar at Nigeria’s official market on Thursday, January 29, 2026, while the street (black market) rate remains higher.
At the official market known as the Nigerian Foreign Exchange Market (NFEM), the dollar opened at about ₦1,395.09/$1 and was around ₦1,396.98/$1 by mid-morning, based on the figures reported for today’s session.
However, in the parallel (black) market where cash is exchanged, today’s quotes are higher. One widely reported rate for Thursday, January 29, 2026, puts the dollar at about ₦1,480/$1 for buying and ₦1,490/$1 for selling.
The gap between both markets usually comes down to demand for cash dollars, supply levels, and how quickly people need FX for travel, imports, and other payments. That is why the street rate can move faster and vary from one location to another, even on the same day.
