Dollar To Naira Black Market Exchange Rate Today, Friday, January 16th 2026

The Nigerian Naira extended its losses against the United States Dollar in the informal foreign exchange market on Friday as demand pressure intensified toward the end of the trading week.

As of Friday, January 16th 2026, the Dollar to Naira exchange rate in the black market stands at ₦1,485 per dollar for buying and ₦1,495 per dollar for selling, according to verified quotations from Bureau De Change (BDC) operators across Lagos, Abuja, Port Harcourt, Kano, and other major FX trading centres.

The continued depreciation reflects growing demand from importers, students, and businesses settling overseas obligations, combined with weakening support from diaspora remittances that helped stabilise the market earlier in the month. By mid-January, the Dollar to Naira market often becomes more volatile as post-holiday liquidity fades.

Dollar to Naira Black Market Rate Overview

Rates compiled from daily market checks and verified using updates published by https://investorsking.com.

How Much Is Dollar to Naira Today in Black Market

The Dollar to Naira exchange rate today in the black market is trading within the ₦1,485 – ₦1,495 range across major commercial locations. Dealers report that most transactions are closing near the selling rate as buyers rush to secure dollars amid expectations of further pressure.

BDC operators say the current pricing reflects strong buying interest from businesses restocking inventory, families paying tuition and accommodation fees abroad, and traders positioning ahead of the coming weeks.

For official FX benchmarks, regulated exchange rates, and interbank guidance, the Central Bank of Nigeria remains the authoritative reference:
https://www.cbn.gov.ng

What Is Driving the Dollar to Naira Weakness

Several factors are combining to push the Dollar to Naira rate higher in the black market:

🔹 Strong Import Demand

Importers are actively sourcing dollars to settle January shipments, increasing wholesale FX demand.

🔹 Education and Overseas Expenses

Families are purchasing foreign currency for tuition, rent, and living expenses for students studying abroad.

🔹 Fading Remittance Support

The December remittance surge that supported supply is tapering, reducing available dollar liquidity.

🔹 Market Positioning

Some traders are holding dollars in anticipation of further depreciation, tightening short-term supply.

🔹 Global Dollar Strength

The US Dollar remains firm globally, adding pressure to emerging-market currencies, including the Naira.

These factors explain why the Dollar to Naira exchange rate has continued to trend upward since mid-week.

Impact on Businesses and Households

The rising Dollar to Naira rate has broad implications across the Nigerian economy:

Positive Effects

• Exporters benefit from higher naira conversion

• Remittance recipients receive more naira per dollar

• FX liquidity remains available despite higher prices

Negative Effects

• Import costs rise sharply

• SMEs face higher input prices

• Tuition, travel, and medical expenses increase

• Inflationary pressure intensifies

Economists warn that sustained depreciation could erode purchasing power and push consumer prices higher if not stabilised.

Market Outlook

Analysts expect the Dollar to Naira market to remain volatile in the near term as January demand stays strong and remittance inflows remain subdued.

Projected short-term trading range: ₦1,480 – ₦1,510 per dollar

Key factors to monitor include:

Conclusion

The Dollar to Naira black market exchange rate today, Friday, January 16th 2026, stands at:

• ₦1,485 per dollar for buying

• ₦1,495 per dollar for selling

For accurate daily FX updates and trusted market analysis, Nigerians continue to rely on:
https://investorsking.com
https://www.cbn.gov.ng

As Nigeria moves deeper into January 2026, the balance between rising import demand, fading remittance inflows, and global dollar strength will remain the key driver of the Dollar to Naira exchange rate.