$52.5Bn As of July 17, 2026, a 17-Year High That Exceeds the Annual Target, the Central Bank of Nigeria Said on Tuesday

CBN Governor Olayemi Cardoso, represented by Acting Director Hakama Sidi-Ali at the CBN Fair in Gombe, attributed the milestone to sustained capital inflows and renewed investor confidence. Headline inflation eased to 15.91 per cent in June from 15.93 per cent in May, with core and food inflation also moderating. The naira has strengthened, with the gap between official and Bureau de Change rates narrowing to below two per cent.

Over the past 34 months, the bank implemented reforms including exchange-rate unification, banking sector recapitalisation, the B-Match trading platform, and a 75 per cent Cash Reserve Ratio on non-Treasury Single Account public sector deposits. Sidi-Ali urged Nigerians to respect the naira, noting it is prohibited to spray, hawk, mutilate, or counterfeit the currency. The Central Bank of Nigeria has disclosed that Nigeria’s foreign reserves have exceeded its annual target and have climbed above $52.5bn as of July 17, 2026, representing a 17-year high.