Breaking News
Dollar to Naira exchange rate today, January 8, 2026
The Nigerian Naira continues to show signs of stability across both the official and informal currency markets as the Central Bank of Nigeria (CBN) maintains its aggressive reform posture to kick off the 2026 fiscal year.
Official Market Performance (NFEM)
At the Nigerian Foreign Exchange Market (NFEM), the Naira opened the trading day with a steady outlook. Data from the FMDQ Securities Exchange indicates that the spot rate is currently hovering around N1,427.52 per US Dollar.
This represents a relatively narrow trading range compared to the close of the previous year, signaling that the CBN’s efforts to improve transparency and enhance market liquidity are yielding results. Market analysts attribute this relative calm to the recent projections by the apex bank, which anticipates Nigeria’s foreign exchange reserves to hit $51.04 billion by the end of 2026, bolstered by increased oil earnings and diaspora remittances.
Parallel Market Trends
In the informal or “black market,” the Naira is trading at a slight premium but remains within a stabilized corridor. Early morning quotes from Bureau de Change (BDC) operators in Lagos and Abuja show the Dollar being exchanged at approximately N1,435 – N1,440.
The gap between the official and parallel market rates has significantly narrowed over the past twelve months. This convergence is a key objective of the current administration’s monetary policy, aimed at discouraging speculative hoarding and ensuring that businesses can access foreign exchange through legitimate banking channels.
Market Drivers and Outlook
Several factors are influencing the current strength of the local currency:
Increased Reserves: The optimistic outlook for Nigeria’s external reserves is providing a psychological cushion for the Naira.
Refinery Impact: The expansion of domestic refining capacity, particularly from the Dangote Refinery, has started to reduce the heavy demand for foreign exchange previously required for fuel imports.
Monetary Policy Stability: Investors are reacting positively to the CBN’s “Consolidating Macroeconomic Stability” framework, which targets a reduction in headline inflation to roughly 12.94% by the end of the year.
As the market progresses through the first week of full operations in 2026, traders remain watchful of further interventions by the central bank to maintain the current momentum.
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Breaking News
FRSC confirms nine dead, 10 injured in Bauchi road crash
The Federal Road Safety Corps (FRSC) in Bauchi State has confirmed that nine passengers lost their lives, while 10 others sustained injuries in a fatal road crash in the state.....TAP TO CONTINUE READING
CC Apaji Danladi Boyi, the Sector Commander of FRSC,, revealed this on Friday while briefing journalists in his office.
He said the accident occurred at about 6:20 a.m. along the Jama’are–Azare axis of the Kano–Maiduguri Expressway.
According to Boyi, the crash involved a commercial vehicle with registration number KTG 181 ZZ, which was conveying 19 passengers from Gombe to Kano.
“The fatal crash involved a commercial vehicle carrying 19 passengers from Gombe to Kano,” he said.
The FRSC commander explained that preliminary findings pointed to overspeeding, driver fatigue and loss of control as the likely causes of the accident, adding that investigations were still ongoing.
“Our initial investigation suggests that overspeeding and fatigue, which led to loss of control, may have caused the crash,” Boyi stated.
He said FRSC operatives promptly rescued the injured victims and took them to the Federal Medical Centre, Azare, where they are currently receiving treatment.
The remains of those who died were deposited at the hospital morgue for identification and collection by their families.
Boyi added that the corps’ Operation Zero Tolerance was still ongoing across Bauchi State, noting that patrols had been intensified on major highways.
He also warned motorists to obey traffic rules, stressing that traffic volume remained high as many travellers were still returning to their destinations after the yuletide and New Year holidays.
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Breaking News
“Why I didn’t attend my cousin Allwell Ademola’s burial” – Muyiwa Ademola
Popular Nollywood actor and filmmaker Muyiwa Ademola has explained why he was absent at the burial of his cousin, late actress Allwell Ademola, held in Lagos.....TAP TO CONTINUE READING
The Yoruba movie star addressed his absence in an emotional social media post shortly after the burial ceremony.
Ademola Buried in Lagos Amid Industry Presence
Allwell Ademola’s burial ceremony took place between Thursday, January 8, and Friday, January 9, with her remains laid to rest at a cemetery in the Yaba area of Lagos.
Several notable figures from the Yoruba movie industry attended the ceremony to pay their last respects.
However, fans quickly noticed that Muyiwa Ademola was missing from the event.
Why Muyiwa Ademola Was Absent
Following the burial, Muyiwa Ademola took to his social media page to explain the reason for his absence.
According to him, he was out of the country at the time of the burial and could not return in time to witness his cousin’s final journey.
Actor Pens Emotional Farewell Message
In his tribute, Muyiwa Ademola expressed deep pain over his cousin’s death and reflected on the uncertainty of life.
The actor asked Allwell Ademola to pass his greetings to departed family members, including his father Awofe Ademola and Uncle Adetokunbo Ademola
He wrote:
“It’s a final Goodbye Couz
The saddest part is my not being in the country to witness your final journey back home.
Your death is just another painful reminder that tomorrow is never promised!
Each day we live is deducted from the days we would live on earth, each birthday we celebrate takes us closer to our final birthday!
May we live long, amen.
Sun re o Omo Oba EniObanke Ademola, bami ki baba mi Awofe Ademola, ki Uncle Adetokunbo Ademola… o digba o! O di gbere!”
Netizens Reacts
Following the post, social media users flooded the comment section with condolences and prayers for the Ademola family.
See below;
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Breaking News
BREAKING NEWS: 2 brothers allegedly strangle their father to d3ath in Adamawa state
The Adamawa State Police Command has arrested one of the two brothers accused of brutally k!lling their father in Numan Local Government Area of the state. ....TAP TO CONTINUE READING
The arrested suspect has been identified as David ThankGod, while his younger brother, Joshua ThankGod, remains on the run.
The spokesperson of the command, SP Suleiman Nguroje, who confirmed the development to SaharaReporters on Thursday, January 8, 2026, said David was apprehended in Taraba State.
“He was picked up in Jalingo, the Taraba State capital,” Nguroje disclosed, adding that efforts were ongoing to track down and arrest the fleeing suspect.
On January 3, residents of Numan town were plunged into shock and mourning after the two brothers allegedly strangled their father to d3ath in the early hours of the day.
The deceased, Ogar ThankGod, a well-known businessman in Numan, was reportedly attacked at about 1am at his residence in the Gwe-da-Mallam area of the town.
Sources said the suspects, aged 23 and 25, allegedly carried out the act following a lingering family dispute that had earlier degenerated into a police case.
According to SP Nguroje, investigations revealed that the suspects were called back from Lagos by their sister to address the family crisis, a move that eventually escalated into the fatal incident.
“The matter was already a police case before the unfortunate incident,” the PPRO said.
The k!lling sparked outrage and disbelief among residents, with many describing the incident as one of the most disturbing family tragedies to hit the community in recent times.
The police said investigations were ongoing and assured that the remaining suspect would be brought to justice.
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