Nigeria’s external reserves rise to over $52.5bn as of July 17, highest in 17 years
Abuja, Aug. 2026 – Nigeria’s external reserves has risen above $52.5 billion as of July 17, 2026, the highest level in 17 years.
Olayemi Cardoso, the Governor of the Central Bank of Nigeria (BN) disclosed this at the CBN Fair in Gombe on Tuesday.
He attributed the steady growth of the reserves in recent times to sustained capital inflows, renewed investor confidence and growing confidence in Nigeria’s economic management.
“This is supported by sustained inflows and renewed investor confidence and participation across asset classes in Nigeria
According to a statement by the apex bank, the CBN governor was represented by Hakama Sidi-Ali, the Acting Director of the Corporate Communications and Investor Relations Department in the bank.
Cardoso said the headline inflation rate had also declined marginally from 15.93 per cent in May 2026 to 15.91 per cent in June, while core and food inflation also moderated during the period.
He said the naira had also recorded greater stability, with the gap between the official exchange rate and Bureau de Change rates narrowing to below two per cent.
“The naira continues to strengthen, with the spread between official and Bureau de Change rates now narrowing to below two per cent,” he said.
The CBN governor said the improved economic performance was driven by monetary tightening, exchange-rate unification, and improved market transparency.
The CBN governor said the bank had in the last 34 months, been implementing reforms to lay foundation for sustainable economic growth, job creation and poverty reduction.
He said the reforms were designed to strengthen liquidity management, improve transparency, deepen financial markets and align Nigeria’s money market infrastructure with international best practices.
On the theme of the fair which was “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development,” Cardoso said the CBN was committed to promoting alternative payment channels to deepen financial inclusion and support economic activities.
