Nigeria's Foreign Reserves Exceed $52.5 Billion Amid Reforms

The Central Bank of Nigeria (CBN) reported that Nigeria's foreign reserves have surpassed $52.5 billion as of July 17, 2026, marking a 17-year high and exceeding the bank's annual target. Mrs Hakama Sidi Ali, Acting Director of Corporate Communications and Investor Relations at the CBN, stated that this increase is due to renewed investor confidence and sustained capital inflows.

She noted that ongoing economic reforms under CBN Governor Olayemi Cardoso are restoring stability to Nigeria's financial system. Headline inflation slightly decreased from 15.93% in May to 15.91% in June 2026, with food and core inflation also moderating.

The naira has strengthened, with the gap between the official exchange rate and Bureau de Change rates narrowing to below two percent, indicating improved foreign exchange market stability. The CBN Fair, held in Gombe, serves as a platform for public engagement on the bank's policies, as described by Branch Controller Yunusa Buba Mubi.