By Progress Godfrey
Nigeria’s foreign reserves have surpassed 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 apex bank disclosed this on Tuesday, attributing the increase to renewed investor confidence and sustained capital inflows into the economy.
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, said the growth reflected improved foreign exchange inflows and increased participation by investors across various asset classes.
She said the development showed growing confidence in Nigeria’s economic management and ongoing reform efforts.
