Nigeria's foreign reserves have surpassed $52.5 billion as of July 17, 2026, marking a 17-year high. The Central Bank of Nigeria attributes this increase to renewed investor confidence and ongoing economic reforms under CBN Governor Olayemi Cardoso.
Mr. Olayemi Cardoso, Governor of the Central Bank of Nigeria, credited monetary and foreign exchange reforms for strengthening external reserves, stabilizing the Naira, and reducing inflation. As of July 17, 2026, reserves exceeded $52.5 billion, the highest in 17 years.
The Central Bank of Nigeria reported that recent stability in the foreign exchange market and rising foreign reserves indicate positive outcomes from its monetary reforms. Governor Olayemi Cardoso highlighted a decline in inflation and a significant increase in foreign reserves.
