Nigeria's external reserves hit $50.42 billion, highest in 17 years
By Aboki Forex —
Nigeria's external reserves have climbed to $50.42 billion as of June 10, 2026, according to the Central Bank of Nigeria. That is up from $50.11 billion on June 5, 2026, extending a steady upward trend that has kept reserves above the $50 billion mark in recent weeks.
The CBN said the rise is driven by higher oil earnings, diaspora remittances, and the return of foreign portfolio investors to the market. Analysts say the continued buildup strengthens FX liquidity and gives the central bank more firepower to defend the naira.
At $50.42 billion, Nigeria's external reserves are now at a 17 year high. The last time they were at this level was on January 26, 2009, when they stood at $50.58 billion. Provisional CBN data shows reserves have jumped 30.9% from $38.28 billion on June 5, 2025.
BusinessDay reports that the sustained buildup reflects improved FX liquidity conditions, even as global financial uncertainty continues to affect capital flows to emerging markets.