NGN → USD Rates

NFEM (Official) Rate

Official Market:

• Buying: ₦ 1,420.13/ USD

Parallel Market:

• Buying: ₦ 1,470/ USD
• Selling: ₦ 1,485/ USD

Closing Summary for January 23

• NFEM (Official) Opening: 1,420.13
• NFEM (Official) Current: 1,418.16
• Parallel Market Range: 1,470 – 1,485

The convergence between the two markets remains a key highlight for the first quarter of 2026. If the current trajectory holds, the Naira is expected to maintain its resilience, supported by projected growth in foreign reserves and a stabilising trade balance. Investors and the public are keeping a close watch on the weekend’s closing rates, which will set the tone for the final week of the month.