Nigeria reported its foreign reserves reached $52.5 billion as of July 17, 2026, marking the highest level seen in nearly two decades and surpassing the Central Bank of Nigeria’s annual projection. According to the bank, this growth is a direct result of increased investor trust and consistent capital flows into the nation.
Speaking at a CBN event in Gombe on behalf of Governor Olayemi Cardoso, Acting Director Hakama Sidi Ali noted that the current economic reforms are effectively stabilizing the financial landscape. She pointed to measurable progress, including a slight drop in headline inflation—from 15.93 percent in May to 15.91 percent in June 2026—alongside lower food and core inflation rates. These shifts were credited to stricter monetary policies and more transparent exchange rate practices.
The bank also highlighted the narrowing disparity between official and Bureau de Change exchange rates, now under two percent, as proof of a healthier foreign exchange market. Over the last 34 months, the CBN has introduced several initiatives, such as bank recapitalization, the Non-Resident Bank Verification Number, and new payment and financing benchmarks. Branch Controller Yunusa Buba Mubi emphasized that these public engagement sessions are vital for improving transparency and gathering stakeholder feedback on the country’s ongoing economic transformation.
