Tag: External Reserves

Nigeria’s forex reserves hit $51.04bn

Aminu Imam
Nigeria's forex reserves

…Highest level since 2009 Nigeria’s external reserves have climbed to $51.04 billion, reaching their strongest level in nearly 17 years amid sustained foreign exchange inflows and improving conditions in the foreign exchange (forex) market. Data obtained from the Central Bank of Nigeria (CBN) showed that the country’s gross external reserves stood at $51.04 billion as of June 18, 2026. The figure represents the highest reserve level recorded since January 20, 2009, when reserves were approximately $51.07 billion. The latest development highlights the continued strengthening of Nigeria’s external position, following notable…

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‘Nigeria’s external reserves rise to $49.34bn’ – CBN

Aminu Imam
CBN on External Reserves

…Says $2.34bn spent on food imports in 2025 Nigeria’s external reserves have continued their upward trajectory, rising to $49.34 billion as the naira remained largely stable against the United States dollar, reinforcing investor confidence in the country’s foreign exchange (forex) market reforms and external sector outlook, according to the latest data released by the Central Bank of Nigeria (CBN). This is just as the apex bank revealed that Nigeria spent approximately $2.34 billion on food imports in 2025, underscoring the country’s continued dependence on foreign food supplies despite a modest…

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Nigeria’s External Reserves hit historic peak above $45bn in 6yrs

Aminu Imam
External Reserves peak

Nigeria’s external reserves hit a six-year high, rising above $45 billion mark, in a historical move. Latest data released by the Central Bank of Nigeria, (CBN),  showed that such a peak was last recorded on July 23, 2019, when they stood at $45.04 billion. The external buffers now stand at $45.04 billion, after climbing to $42.03 billion on September 19, 2025. This means the nation has added nearly $5 billion to its reserves within a short period. The rise in the country’s external reserves is not a one-off spike but…

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Nigeria’s External Reserves hit 22-month high, to $37.31bn CBN

Aminu Imam
CBN HQ

Nigerias external reserves have reached a 22-month high of $37.31bn, reflecting significant foreign inflows into the countrys economy. Data from the Central Bank of Nigeria (CBN) revealed that as of September 18, 2024, the reserves hit the highest level since November 4, 2022, when they stood at $37.36bn. This marks a notable recovery in Nigerias foreign currency position. On a year-to-date basis, the countrys reserves surged by 12.99 per cent, or $4.29bn, from the $33.02bn recorded at the start of the year on January 2, 2024. Data from the CBN…

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Nigerias External Reserves rises to $34.07bn

Aminu Imam
External Reserves

Nigerias external reserves reached a record high of $34.07 billion on Wednesday, June 26. This is according to the Central Bank of Nigeria, (CBN)s latest FX data on its official website. The figure represents the highest level since March 2024. Recall that last week the external reserves reached a three-month high when it rose to $33.5 billion. Reserves have continued to surge since then, topping $34 billion for the first time since March 21, when it was $34.2 billion. The external reserves have increased by a substantial $1.3 billion since…

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Nigerias forex reserves hit a 3-month high

Aminu Imam
forex

Nigerias foreign exchange (forex) reserves have surged to their highest level since March 28, 2024, marking a significant financial milestone that coincides with the longest period of stable exchange rate seen in over a year. This is as the country recorded a stringent p3 of finartuncial commitments from the World Bank, through new multilateral loans. According to the latest data published by the Central Bank of Nigeria (CBN), the reserves now stand at $33.58 billion as of June 19, 2024. This achievement represents a notable recovery since the end of…

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Nigerias external reserves drop by $21.8m in 6 days, as CBN moves to meet forex demands

Aminu Imam

Nigerian external reserves dropped to $40.49billion following the withdrawal of $21.8million from the reserves by the Central Bank of Nigeria, (CBN), earlier in the week. Data obtained from the CBN website yesterday revealed that countrys foreign reserves dropped from $40.52 billion on December 31, 2021, to $40.49 billion by January 6, 2022. It added that the apex bank withdrew the $21.8million to meet forex demands from manufacturers, importers, travellers, and students studying abroad. Recall that the nations external reserves hit a three-year high of $42 billion in October last year.…

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Nigerias external reserve falls to lowest in 10 months – CBN

Aminu Imam

The latest data obtained from the Central Bank of Nigeria (CBN) has revealed that Nigerias foreign reserve has fallen to its lowest level in 10 months. According to the CBN, as of Monday, 8th March 2021, Nigerias foreign exchange reserve stood at $34.74 billion, representing a year-to-date decline of $632.9 million (1.79%) . The last time Nigerias reserve position was at this level was 11th May 2020, exactly 10 months ago. The foreign reserve has recorded a steady decline despite the recent bullish run in the global oil market. Brent…

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Nigerias external reserves hit $36.23bn on higher crude oil prices

Aminu Imam

Nigerias foreign exchange reserves have risen from $34.94 billion last November  to $36.23 billion by January 21, 2021 on the back of increase in global crude oil prices. The Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, who disclosed this at the end of the Monetary Policy Committee (MPC) meeting of the Bank, said the increase reflected improvements in crude oil prices, partial global economic recovery amid optimism over the discovery and distributions of coronavirus (Covid-19) vaccines by most developed economies. He added that the nations economy and its global…

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