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Nigeria’s External Reserves Hit $52.5bn, Cover Nine Months of Imports

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Nigeria’s External Reserves Hit $52.5bn, Cover Nine Months of Imports

23 Jul, 2026

The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, disclosed that Nigeria’s external reserves had risen to $52.5 billion, enough to finance about nine months of imports. He disclosed this on Tuesday at the end of the 306th meeting of the Monetary Policy Committee (MPC) held in Abuja, where the Monetary Policy Committee (MPC) retained the benchmark interest rate at 26.50 per cent as well as the standing facilities corridor at +50/-450 basis points around the MPR...............….......READ MORE