By Progress Godfrey
Nigeria’s foreign reserves have exceeded the Central Bank of Nigeria’s (CBN) annual target, rising above $52.5 billion as of July 17, 2026, the highest level recorded in 17 years.
The CBN stated this on Tuesday, emphasising that the growth was driven by renewed investor confidence and sustained capital inflows.
Speaking at a CBN Fair in Gombe, the Acting Director of Corporate Communications and Investor Relations Department of the CBN, Mrs Hakama Sidi Ali, who delivered the opening remarks of the CBN Governor, Mr Olayemi Cardoso, attributed the increase to stronger foreign exchange inflows and renewed investor participation across different asset classes, saying the trend reflects growing confidence in the country’s economic management and ongoing reforms.
She said the reforms are restoring stability to Nigeria’s financial system. She explained that the reforms introduced under the leadership of the CBN Governor are producing measurable gains, including improved macroeconomic stability, easing inflation and increased confidence in the foreign exchange market.
