Nigeria’s reserves hit $54bn, highest in 18 years

Nigeria's external reserves reached $54.08 billion on September 3, 2026, the highest level since December 2008. This amount reflects an increase of approximately $1.42 billion since August 19 and a rise of $8.52 billion year-to-date. Central Bank Governor Olayemi Cardoso attributed this growth to stronger foreign exchange inflows, including receipts from oil-related taxes.