WorldStage– Nigeria’s foreign reserves have exceeded the Central Bank of Nigeria’s annual target, rising above $52.5 billion as of July 17, 2026, the highest level in 17 years, as renewed investor confidence and sustained foreign exchange inflows continue to strengthen the country’s external position.
The Central Bank of Nigeria (CBN) said the improvement reflects the positive impact of ongoing economic reforms, which are restoring stability to the financial system, strengthening the naira and boosting confidence in Nigeria’s economy.
The Acting Director of Corporate Communications and Investor Relations Department, Mrs. Hakama Sidi Ali, disclosed this on Tuesday while delivering the opening remarks of the CBN Governor, Mr. Olayemi Cardoso, at the CBN Fair held at the International Conference Centre, Gombe.
She said the surge in external reserves was driven by sustained foreign exchange inflows and renewed investor participation across multiple asset classes, underscoring growing confidence in Nigeria’s macroeconomic management.
According to her, the reform measures introduced under Governor Cardoso’s leadership are yielding measurable results, including stronger macroeconomic stability, moderating inflation and improved confidence in the foreign exchange market.
She noted that headline inflation eased marginally from 15.93 per cent in May to 15.91 per cent in June 2026, while food and core inflation also moderated, attributing the trend to disciplined monetary tightening, exchange-rate unification and enhanced market transparency.
Sidi Ali added that the naira has continued to strengthen, with the gap between the official exchange rate and Bureau de Change rates narrowing to below two per cent, describing the development as a clear indication of improving stability in the foreign exchange market.
She also highlighted key reforms implemented by the apex bank over the past 34 months, including the banking sector recapitalisation programme, the launch of the Non-Resident Bank Verification Number (NRBVN), the B-Match foreign exchange trading platform, the Nigeria Payments System Vision 2028 and the introduction of the Nigerian Overnight Financing Rate benchmark.
Reaffirming the Bank’s commitment to monetary and price stability, Sidi Ali said the CBN would continue to implement policies aimed at attracting investment, deepening financial markets and supporting sustainable economic growth.
Earlier, the Branch Controller of the CBN Gombe Branch, Mr. Yunusa Buba Mubi, described the CBN Fair as an annual public engagement initiative designed to educate Nigerians on the Bank’s policies while providing stakeholders with an opportunity to seek clarification and offer feedback.
He encouraged participants to actively engage in the sensitisation sessions to deepen public understanding of the CBN’s policy initiatives and their impact on the nation’s economy.
