Abuja, Feb. 24, 2026 – Nigeria’s external reserves have risen to $50.45 billion as of February 16, 2026.
Olayemi Cardoso, the CBN governor, said this in Abuja on Tuesday while briefing the media on the outcome of the two-day meeting of the Monetary Policy Committee (MPC).
He described this as the highest level of the reserves in the last 13 years, which he attributed to higher export earnings and increased foreign exchange remittance from abroad.
The CBN governor said the committee was impressed by the remarkable performance of Nigeria’s external sector as evidenced by robust accretion to foreign exchange reserves.
The external reserves have experienced a significant boost since the assumption of office of the current administration when it was approximately $35.09 billion.
The steady accretion of the reserves during this period has been due higher oil revenues, foreign portfolio investments, and improved forex management.
