The naira recorded modest gains across official and parallel channels on Tuesday, January 7, 2026, continuing a cautious recovery trend in the foreign exchange market, according to data from the Central Bank of Nigeria (CBN) and international money transfer operators (IMTOs).
At the Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira appreciated to N1,416 per dollar, compared to N1,428/$1 recorded in the previous trading session while rates across IMTO channels also showed marginal improvements.
The naira strengthened against the US dollar at the IMTO window, trading at N1,474/$1 on January 7, compared with N1,477/$1 on January 6, reflecting a N3 gain or 0.20 per cent appreciation, according to data from LemFi and Remitly.
Against the British pound, the naira traded at ₦1,990/£1, up from ₦1,993/£1 in the previous session, while it appreciated against the euro to ₦1,702/€1, from ₦1,711/€1. The local currency also strengthened against the Canadian dollar, closing at ₦1,070/$1, compared with ₦1,075/$1 a day earlier.
Meanwhile, Nigeria’s external reserves recorded a slight increase, rising to $45.606 billion as of January 5, 2026, from $45.565 billion on January 2, representing a 0.09 per cent uptick, according to CBN figures.
