By Boluwatife Oshadiya | August 18, 2026
Key Points
- Nigeria’s foreign reserves exceed US$52.5 billion as of July 17, 2026
- CBN says the reserves level marks a 17-year high amid stronger investor participation
- Acting Director Hakama Sidi-Ali links recent economic gains to foreign exchange and monetary reforms
Main Story
Nigeria’s foreign exchange reserves rose above US$52.5 billion as of July 17, 2026, reaching a 17-year high as the naira strengthens and the gap between official and Bureau de Change rates narrows.
Hakama Sidi-Ali, Acting Director, Corporate Communications and Investor Relations Department, Central Bank of Nigeria, disclosed the reserve figure on Tuesday in Lafia, Nasarawa State, during a CBN fair focused on alternative payment channels and financial inclusion.
Sidi-Ali said the reserve position had been supported by sustained inflows and renewed investor confidence and participation across asset classes in Nigeria.
She also highlighted reforms under CBN Governor Olayemi Cardoso, including greater transparency in the foreign exchange market, banking-sector recapitalisation, the non-resident Bank Verification Number, the B-MATCH system for foreign exchange trading and the Nigeria Payments System Vision 2028.
According to Sidi-Ali, the CBN also introduced a 75% Cash Reserve Ratio on non-Treasury Single Account public-sector deposits as part of efforts to improve liquidity management and reduce inflationary risks.
She said National Bureau of Statistics data showed headline inflation falling from 15.91% in June to 15.43% in July 2026, while core and food inflation also eased.
What’s Being Said
“These efforts are already yielding positive results, evidenced by the moderate decline in inflation, ongoing growth in our foreign reserves, and the current stability in the foreign exchange market.” Hakama Sidi-Ali, Acting Director, Corporate Communications and Investor Relations Department, Central Bank of Nigeria, said.
Njideka Nwabukwu, Branch Controller, Central Bank of Nigeria, Lafia, said alternative payment channels had expanded financial inclusion through agent banking, Point-of-Sale networks, mobile money, QR payments, internet banking and instant payment platforms.
What’s Next
- The CBN is expected to continue implementing monetary and foreign exchange reforms aimed at supporting stability
- The apex bank will continue promoting alternative payment channels as part of its financial-inclusion strategy
- The latest reserve and inflation data will remain key indicators for assessing the impact of ongoing monetary reforms
The Bottom Line:
The rise in foreign reserves, alongside a narrower exchange-rate gap and easing inflation, points to improved external liquidity and greater stability in Nigeria’s financial system. The durability of these gains will depend on whether the CBN can sustain reserve accumulation and preserve exchange-rate and price stability.
