Nigeria’s foreign reserves drop by $20m in two days

Nigeria’s foreign reserves recorded a slight decline for two consecutive days, falling to $55.24 billion on October 29, 2026.

Data from the Central Bank of Nigeria, CBN, showed that the country’s external reserves declined on October 28 and 29 to $55.26 billion and $55.24 billion, respectively.

This means that Nigeria’s foreign reserves shed $20 million over the two days, according to the apex bank’s data.

A further analysis of the apex bank’s data showed that the country’s foreign reserves gained $60 million during the period under review despite the two-day decline.

The country’s external reserves increased by $60 million between October 23 and 29, 2026.

DAILY POST reports that the country’s foreign reserves rose to $55.24 billion on October 29, from the $55.18 billion recorded on October 23, representing an increase of $60 million.

This comes as the naira closed at N1,346.26 against the dollar on Friday.