Foreign reserves soar above $50bn, gain $1.01bn in 2 weeks

By Uche Usim
Nigeria’s foreign exchange reserves have risen by more than $1 billion in the first half of June 2026. This accentuates the country’s external position and providing additional support for exchange rate stability amid ongoing economic reforms.
Latest data released by the Central Bank of Nigeria (CBN) showed that the nation’s gross external reserves increased from $49.80 billion on June 1 to $50.81 billion as of June 15, representing a growth of approximately $1.01 billion within two weeks.
The latest increase extends the positive momentum recorded in May, when reserves grew by about $1.22 billion over the month, reflecting stronger foreign exchange inflows and improv...