Nigeria’s Forex Reserves Break Six-Year Record, Soar Above $45bn as CBN Strengthens FX Position

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Nigeria’s foreign exchange reserves have surged to a historic six-year high, crossing the $45 billion mark for the first time since 2019, according to the latest figures released by the Central Bank of Nigeria (CBN).

Fresh CBN data shows that the reserves now stand at $45.04 billion, a milestone last recorded on July 23, 2019.

The development signals a major boost to the country’s external buffers at a time when several emerging economies are grappling with severe foreign exchange pressures.

The latest jump reflects an impressive and sustained buildup in recent months. Nigeria has added nearly $5 billion to its external reserves within a short period—a dramatic improvement that contrasts sharply with earlier concerns over FX liquidity and market volatility.

Just months ago, on September 19, 2025, Nigeria’s reserves climbed to $42.03 billion, the highest level in 72 months. Analysts described that performance as a turning point, but the latest figures indicate even stronger momentum.

Economic experts say the reserve growth will enhance investor confidence, strengthen the naira’s stability prospects, and improve Nigeria’s ability to meet international obligations without excessive market pressure.

The CBN is yet to provide detailed commentary on the factors driving the rapid accumulation, but market watchers attribute the surge to improved oil receipts, tighter monetary interventions, and renewed inflows from international partners.

With reserves now at a six-year peak, stakeholders believe Nigeria is better positioned to navigate global economic uncertainties while reinforcing domestic foreign exchange reforms.