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Tag: External reserves

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BREAKING: Nigeria’s external reserves cross $54bn, first time in 18 years

Nigeria’s external reserves have crossed the $54 billion mark for the first time since December 2008, reaching $54.08 billion as of September 3, 2026. This is according to the latest data from the Central Bank of Nigeria, CBN. The CBN data showed that reserves stood at $54,083,850,797.49 on September 3, compared with $53.99 billion on […]

featured Finance

Nigeria’s external reserves hit $52.66bn in August

Nigeria’s external reserves have expanded by $7.09 billion since the start of 2026, climbing to $52.66 billion as of August 19, according to the latest figures released by the Central Bank of Nigeria. The growth represents a 15.6 per cent expansion in under eight months, rising from $45.57 billion recorded on January 2, 2026. This […]

Economy featured

Nigeria’s external reserves hit $52.02bn, highest since 2009

Nigeria’s external reserves rose to $52.02 billion on July 20, 2026, reaching their highest level since January 2009 and surpassing the Central Bank of Nigeria’s projected level for the full year. Nairametrics reported that the CBN database showed that the country’s external reserves stood at $52.01 billion as of January 15, 2009. The latest position […]

Nigeria's FX reserves hits three-month peak
featured Finance

Nigeria’s external reserves drop $855m in five weeks

Nigeria’s external reserves declined by approximately $855 million within five weeks, falling from $49.18 billion on April 1, 2026, to $48.33 billion as of May 7, 2026. This is according to the latest figures released by the Central Bank of Nigeria. The development reflects renewed pressure on the country’s foreign exchange buffers, even as reserve […]

Nigeria's FX reserves hits three-month peak
featured Finance

Nigeria’s external reserves drop $731m in three weeks

Nigeria’s external reserves declined by about $731 million within the first three weeks of April 2026, reflecting continued pressure on the country’s foreign exchange buffers. Data from the Central Bank of Nigeria shows reserves fell from $49.18 billion on April 1 to $48.45 billion as of April 23, representing an average weekly decline of about […]

Diaspora Nigerians to pay ₦80,000 for remote BVN
Economy featured

Cardoso dismisses reserve fluctuations, assures strong buffers

Governor of the Central Bank of Nigeria, Olayemi Cardoso, has dismissed concerns over recent fluctuations in the country’s external reserves, insisting that Nigeria remains in a strong and comfortable position, with buffers well above global benchmarks. Tribune reported that speaking at a Nigerian press conference to round up the International Monetary Fund/World Bank Spring Meetings […]

Nigeria's FX reserves hits three-month peak
Finance

Net external reserves surge 50.5% to $34.8bn in 2025 — CBN

The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, has disclosed that the nation’s net external reserves rose 50.5 per cent year-on-year to $34.8 billion in 2025 from $23.11 billion in 2024. In a statement from the apex bank, Cardoso said that the growth in external reserves reflects stronger external sector fundamentals and […]

Employers slam FRC over levies on private firms
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Naira remains stable as external reserves hit $44bn

The naira has continued to maintain a steady, largely flat trading pattern, supported by the steady rise in Nigeria’s external reserves, even as the country grapples with a decline in crude oil production. The currency’s resilience comes at a time when oil output, the nation’s major foreign exchange earner, has faced notable setbacks, yet underlying […]

Trapped funds: CBN to give foreign airlines $150m
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External reserves rise by $424.68m in 11 days – Report

Nigeria’s external reserves saw a notable increase of $424.68 million between August 30 and September 10, climbing from $36.305 billion to $36.730 billion. This 1.17% rise over 11 days reflects a positive trend in the country’s financial situation. After a slight dip to $36.244 billion on September 2, the reserves recovered and matched the August […]

Nigeria's external reserves dip by $4.28bn in 2023 - Report
Business

Nigeria’s external reserves dip by $4.28bn in 2023 – Report

Nigeria’s external reserves have been reduced by 11.55 percent ($4.28 billion) year to date, as the naira continues to plummet against the dollar in 2023. BusinessDay reported that the external reserves, the apex bank’s pool of foreign assets, fell to $33,78 billion as of December 20, 2023, from $37.06 billion on January 3, 2023, according […]

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