Foreign Reserves

Nigeria’s Foreign Reserves Rise To $46.7 Billion — CBN Report

December 5, 2025 3:56 pm

Nigerian Government reports a seven-year high in reserves, surging capital inflows, and stronger lending as signs that economic recovery is accelerating.

Nigeria’s Federal Government says the country’s economic recovery is gaining speed, citing new data from the Central Bank of Nigeria (CBN) that points to the strongest rebound in years. According to the Minister of Information, Nigeria’s foreign reserves have climbed to $46.7 billion—marking their highest level in nearly seven years and reflecting what officials describe as renewed investor confidence and improved external stability.

The minister shared the figures on his official X account, framing the development as evidence that

…

Nigerian Foreign Reserves To Be Boosted Through Gold Mining

Nigerian Foreign Reserves Receives Boost Through Gold Mining

October 23, 2025 6:00 pm

Nigeria unveils a gold acquisition plan that channels locally mined gold into its foreign reserves, aiming to ease pressure on the naira and curb dollar demand.

Nigeria’s government has announced a new strategy to strengthen its foreign reserves by purchasing locally mined gold, a move officials say will reduce the country’s dependence on the U.S. dollar and stabilize the naira.

The initiative, launched in August under the supervision of the Solid Minerals Development Fund (SMDF), allows the government to acquire gold from local miners using the naira rather than foreign currency. Once purchased, the gold is deposited directly into the …

Bloomberg: Nigeria’s Naira Strengthens As Reserves Increases

Bloomberg: Nigerian Naira Strengthens As Reserves Increases

October 3, 2025 11:53 pm

Bloomberg reports show Naira currency edges up on muted dollar demand, Kenya’s Shilling holds steady, while Ghana’s Cedi and Zambia’s Kwacha under pressure.

Nigerian Naira edged higher against the U.S. dollar in September, supported by rising foreign reserves and muted demand for hard currency, Bloomberg reported. Traders expect the local unit to maintain slight gains in the coming days, helped by central bank interventions.

The naira gained ₦50.75 during the month, trading around 1,478 per dollar in the official market on Thursday, compared with 1,485 a week earlier. On the parallel market, the exchange rate was quoted at about 1,485 …