Nigeria’s Foreign Reserves Hit 17-Year High of $52.5bn, Beat CBN Target
Nigeria’s foreign reserves have surpassed the Central Bank of Nigeria’s (CBN) annual target, climbing above $52.5 billion as of July 17, 2026.
This milestone marks the highest level recorded in 17 years.
The CBN disclosed this development on Tuesday at a Fair in Gombe, explaining that the surge was propelled by renewed investor confidence and sustained capital inflows.
The Apex Bank’s governor, Mr. Olayemi Cardoso, represented by acting director of corporate communications and investor relations, Mrs. Hakama Sidi Ali, also attributed the massive reserve accumulation to stronger foreign exchange (FX) inflows and increased investor participation across multiple asset classes.
She said the positive trajectory underscores growing global confidence in Nigeria’s economic management and ongoing fiscal adjustments.
