The Canadian Dollar maintained relative stability against the Nigerian Naira on Friday, January 23, 2026, trading at an average rate of 1,028.53 in the Nigerian Foreign Exchange Market (NFEM) after opening at approximately 1,029.88. In the parallel market, Bureau De Change operators in Lagos and Abuja quoted the Canadian Dollar between 1,070 and 1,095 Naira. Financial analysts attributed the stability to the central bank’s liquidity efforts and consistent foreign exchange supply for education and business travel allowances, which remain high-priority sectors for CAD demand in Nigeria. Traders reported adequate availability of CAD in the informal sector, with consistent demand driven by Nigerians funding tuition fees and immigration-related expenses preventing significant upward pressure on rates.
Current Exchange Rates (January 23, 2026):
NFEM Opening: ₦1,029.88/$1 CAD
NFEM Current: ₦1,028.53/$1 CAD
Parallel Market: ₦1,070 – ₦1,095/$1 CAD