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Nigeria’s external reserves have risen, exceeding the CBN’s 2026 target and reaching their highest level in more than 17 yearsThe increase was driven by stronger oil earnings, improved exports and higher foreign capital inflows. The CBN also kept its key interest rate at 26.5%, saying the stronger reserves will help support the naira
Legit.ng journalist Victor Enengedi has over a decade’s experience covering energy, MSMEs, technology, banking and the economy.
Nigeria’s external reserves have climbed above the $52 billion mark, surpassing the Central Bank of Nigeria’s (CBN) projection for 2026 and reaching their strongest level in more than 17 years.
Fresh data released by the CBN showed that the country’s foreign reserves stood at $52.02 billion as of July 20, 2026, exceeding the apex bank’s year-end target of approximately $51.04 billion.
Again, Nigeria’s external reserves rises, surpasses CBN’s 2026 target, highest level in 17 yearsSource: UGC
The latest figure is the highest reserve
