Cardoso: Nigeria’s Net External Reserves Hit $46bn, Links Stronger Buffers to FX Stability, Investor Confidence
Nume Ekeghe Nigeria’s net external reserves have climbed to a record $46 billion, strengthening the country’s capacity to meet foreign exchange (FX) obligations and further boost investor confidence. The Governor
Nigeria's net external reserves have reached a record $46 billion, bolstering the nation's ability to fulfill foreign exchange obligations and further enhancing investor confidence, according to Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso. He revealed this during his address at the Nigeria-Asia Connectivity Dialogue in Singapore.
The increase in reserves to this level has made foreign exchange transactions more predictable for investors. As of October 8, 2026, Nigeria's gross external reserves have also hit an all-time high of $55.07 billion. These robust financial buffers serve as a strong indicator of investor confidence, allowing them to plan and move funds in and out of the country with relative ease.
Written by urgent.news from This Day's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
