Wale Edun, Nigeria's Minister of Finance, reassured that the recent decline in the country's external reserves is not a cause for concern, stating that Nigeria's reserves remain above critical thresholds and provide sufficient import cover.
Nigeria's foreign exchange reserves fell to $48.6 billion as of April 16, 2026, a decrease of $1.38 billion over five weeks, according to Central Bank of Nigeria data. The decline reflects ongoing pressures in the foreign exchange market despite earlier gains.
Olayemi Cardoso, Governor of the Central Bank of Nigeria, reassured that the recent decline in Nigeria's external reserves is not a cause for concern, as the reserves remain above critical thresholds and provide a strong import cover.
