Prime Business Africa
On Friday, January 2, 2026, the Nigerian foreign exchange market (NFEM) recorded a N2 increase in the foreign exchange (FX) rate of the United States dollar (USD).
Based on data obtained from the Central Bank of Nigeria (CBN), the USD rate increased to N1,431 per dollar, representing a 0.13 percent depreciation in the value of the naira when compared to the N1,429 per $1 recorded on Wednesday, December 31.
Join our WhatsApp ChannelThe NFEM, also known as the official window, did not open for trading activities on Thursday, January 1, due to the public holiday to celebrate the New Year.
Also, the data showed that the USD was traded as high as N1,438.5 kobo per dollar, and as low as N1,427 per $1 during trading, before closing at N1,431/$1.
For the foreign exchange rate of the pound, the official window recorded an N8.47 kobo decline and a 0.43 percent appreciation in the value of the Nigerian currency.
It was gathered that the British pound was traded at N1,925.10 kobo per £1, compared to the N1,933.57 kobo per £1 recorded on Wednesday.
The naira also appreciated against the euro by 0.57 percent, as the exchange rate for the European currency decreased to N1,677.65 kobo per €1 on Friday.
This represents a N9.63 kobo decline in the exchange rate for the euro when compared to the N1,687.28 kobo per €1 reported on Wednesday.
In the black market, there were no changes in the exchange rate for the dollar, euro, and pound on Thursday, according to Naira Rates, the parallel market rate aggregator.
Data showed that the exchange rate of the dollar, euro and pound stood at N1,478 per $1, N2,204.4 kobo per £1, and N1,753.5 kobo per €1, respectively, which are the same rates reported on Wednesday.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
