CBN: Nigeria’s Foreign Reserves Remains Above $52.5bn

Nigeria's foreign reserves have reached a 17-year high, exceeding $52.5 billion as of July 17, 2026, according to the Central Bank of Nigeria (CBN). This figure represents a significant milestone, surpassing the CBN's yearly target and has been driven by sustained inflows and increased investor confidence across various asset classes.

Acting Director of Corporate Communications and Investor Relations at the CBN, Hakama Sidi-Ali, revealed this during a fair organized by the bank in Lafia, the capital of Nasarawa State. Sidi-Ali attributed the growth in reserves to bold reforms led by Governor Olayemi Cardoso, which focused on inclusive growth, job creation, and economic stability.

These reforms included unifying the foreign exchange market, recapitalizing the banking sector, launching the non-resident BVN, introducing the B-Match System for forex trading, unveiling the Nigeria Payments System Vision 2028, and a 75% Cash Reserve Ratio on non-Treasury Single Account (TSA) public sector deposits. The CBN emphasized that the latest National Bureau of Statistics data shows a slight decline in inflation, from 15.91% in June to 15.43% in July 2026, with core and food inflation also easing.

The fair's theme, "Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development," underscores the CBN's commitment to leveraging innovation and technology to expand financial inclusion and stimulate economic growth across Nigeria.