Nigeria’s foreign reserves exceed $50bn for first time in three months

Nigeria’s external reserves have climbed above the $50 billion mark for the first time in three months, according to the latest data released by the Central Bank of Nigeria, CBN.

Figures from the apex bank showed that the country’s foreign reserves rose to $50.04 billion as of June 4, 2026.

The development represents an increase of $1.70 billion, or 3.52 per cent, compared to the $48.34 billion recorded during the same period in May.

DAILY POST reports that Nigeria’s external reserves have maintained a steady upward trajectory since May 6, 2026, when they stood at $48.36 billion.

CBN data further indicated that the last time the nation’s foreign reserves exceeded the $50 billion threshold was on March 12, 2026.

Despite the sustained growth in external reserves, the naira has continued to experience fluctuations against the dollar at the official foreign exchange market.

The local currency closed at N1,362.21 per dollar on Friday, June 5, 2026, representing an appreciation of N4.34 compared to the corresponding period last month.