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New data shows that Nigeria’s external reserves increased to $51.06 billion, surpassing the CBN’s targetThe naira strengthened across FX markets, gaining N1.35 at the NFEM to N1,369.11/$ and N5 in the parallel marketCBN MPC members have shared their views on the rising external reserves and the impact on naira
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigeria’s external reserves have increased to $51.06 billion, exceeding the Central Bank of Nigeria’s (CBN) year-end target of $51.04 billion.
It has gained 32.62% compared to $38.50 billion in the same period in 2025.
The current reserve level provides the CBN with the buffer to support the naira and settle international obligations.
External reserves hit $51.06bn, boosting sentiment around naira Photo: BloombergSource: Getty Images
Naira exchange rate
Data obtained from the CBN showed that the naira gained N1.35 in the Nigerian Foreign
