Prime Business Africa
The Nigerian foreign exchange market (NFEM), also known as the official window, recorded a rate of N1,433 per dollar at the close of trading on Monday, January 5.
This was N2 above the N1,431/$1 reported on Friday, January 2, 2026, indicating the naira depreciated by 0.13 percent during trading.
Join our WhatsApp ChannelAlso, data from the official window showed that the foreign exchange rate for the United States dollar (USD) rose as high as N1,433/$1 and as low as N1,424 per USD before closing at N1,433/$1.
However, the naira appreciated by 0.28 percent against the pound, as the exchange rate for the British currency decreased by N5.5 kobo, from N1,925.10 kobo per £1 to N1,919.60 kobo/£1 during the period under review.
Also, the exchange rate for the euro dropped to N1,666.84 kobo per €1 on Monday, from the N1,677.65 kobo per €1 recorded on Friday.
This indicates the naira depreciated by 0.64 percent and the foreign exchange rate for the European currency dropped by N10.81 kobo.
For the parallel market, it was gathered from Naira Rates, a black market aggregator, that the dollar rate increased to N1,479 per USD, from N1,478/$1, representing an increase of N1.
However, the pound and euro traded at N2,204.4 kobo per £1 and N1,753.5 kobo per €1, respectively, as the exchange rates for both currencies recorded no changes.
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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.
