Nigeria external reserves hit $54.13 billion record high
Nigeria's gross external reserves reached an 18-year peak of $54.13 billion, driven by improved external liquidity. Japan's GDP grew at a revised annualized 1.4% in the second quarter.
The Central Bank of Nigeria released data showing gross external reserves climbed to $54.13 billion on September 4, 2026. This figure represents an 18-year high and a 30.31% increase from $41.54 billion in the same period of 2025. On the official foreign exchange market, the dollar quoted at N1,320.56, up marginally from Friday's rate of N1,321.22. A weekly report by Coronation Merchant Bank noted the naira appreciated 0.97% week-on-week, closing at N1,322.50 per dollar. In the parallel market, the currency closed at N1,390, a gain of 0.71% from last week's N1,400 level. The spread between official and black market rates narrowed to 5.3% on September 4.
