Nigeria’s foreign reserves hit 17-year high, says CBN official
Nigeria’s foreign reserves have surpassed $52.5bn, reaching a 17-year high and exceeding the Central Bank of Nigeria’s annual target. Hakama Sidi-Ali, Acting Director of Corporate Communications and Investor Relations at the CBN, credited the achievement to sustained inflows and renewed investor confidence. She highlighted major reforms led by Olayemi Cardoso over the past 34 months, which have strengthened the banking sector and promoted economic growth. The CBN also emphasized the importance of financial inclusion and digital payment solutions for sustainable development.
TLDR
- Nigeria’s foreign reserves stood above $52.5bn as of July 17, 2026, marking a 17-year high.
- Hakama Sidi-Ali said the CBN’s reforms have boosted investor confidence and market stability.
- Headline inflation dropped from 15.91% in June to 15.43% in July 2026.
- The CBN is promoting digital payment channels and financial inclusion to expand economic opportunities.
- Participants at the CBN fair pledged to embrace digital banking and alternative payment methods.
