Nigeria’s foreign reserves exceed $50bn for first time in three months

Nigeria’s outer reserves person climbed supra the $50 cardinal people for the archetypal clip successful 3 months, according to the latest information released by the Central Bank of Nigeria, CBN.

Figures from the apex slope showed that the country’s overseas reserves roseate to $50.04 cardinal arsenic of June 4, 2026.

The improvement represents an summation of $1.70 billion, oregon 3.52 per cent, compared to the $48.34 cardinal recorded during the aforesaid play successful May.

DAILY POST reports that Nigeria’s outer reserves person maintained a dependable upward trajectory since May 6, 2026, erstwhile they stood astatine $48.36 billion.

CBN information further indicated that the past clip the nation’s overseas reserves exceeded the $50 cardinal threshold was connected March 12, 2026.

Despite the sustained maturation successful outer reserves, the naira has continued to acquisition fluctuations against the dollar astatine the authoritative overseas speech market.

The section currency closed astatine N1,362.21 per dollar connected Friday, June 5, 2026, representing an appreciation of N4.34 compared to the corresponding play past month.

Nigeria’s overseas reserves transcend $50bn for archetypal clip successful 3 months