Nigeria’s foreign exchange reserves have hit a new high of $48.5 billion, the highest since May 2013.
This marks a significant milestone in the country’s external reserves rebuild, driven by forex transparency reforms and tighter liquidity management by the Central Bank of Nigeria (CBN).
Reserves Growth: Opened 2026 at $45.56 billion, closing January at $46.28 billion, a gain of over $700 million in four weeks.
Rapid Accumulation: Within the first 22 days of January, reserves rose by approximately $509 million.
Year-on-Year Increase: Nearly $4.7 billion from about $40.8 billion in early 2025.
The CBN projects reserves could hit $51 billion by end of 2026, part of broader macroeconomic stabilization efforts aimed at moderating currency volatility and restoring investor confidence.