Nigeria’s foreign reserve has surged to over $46 billion, marking its highest level in seven years, the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, announced on Tuesday.
Cardoso made the disclosure during the opening session of the Monetary Policy Department’s 20th anniversary colloquium in Abuja, noting that the milestone reflects improved economic stability and strengthened external buffers.
According to him, the current reserve level is significant enough to cover more than 10 months of imports — a benchmark not achieved since 2018.
The CBN governor said the development was a positive signal for Nigeria’s economic outlook and the bank’s ongoing reforms aimed at stabilising the financial system.
