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

According to the latest figures released by the Central Bank of Nigeria (CBN), the country’s external reserves have surpassed the $50 billion threshold for the first time in three months.

The apex bank reported that Nigeria’s foreign reserves reached $50.04 billion as of 4 June 2026.

This marks an increase of $1.70 billion, or 3.52 percent, over the $48.34 billion recorded during the same period in May.

Daily Post notes that Nigeria’s external reserves have been on a steady upward trend since 6 May 2026, when they stood at $48.36 billion.

CBN data also showed that the last time the nation’s foreign reserves exceeded $50 billion was on 12 March 2026.

Despite the growth in external reserves, the naira has continued to fluctuate against the dollar in the official foreign exchange market.

The local currency closed at N1,362.21 per dollar on 5 June 2026, reflecting an appreciation of N4.34 compared to the same period last month.