Nigeria’s external reserve has risen to $40.11 billion as of July 18, 2025, making it the highest level recorded since November 2024 when it hit $40.11 billion

This was disclosed by the Central Bank of Nigeria (CBN) Governor Olayemi Cardoso while briefing journalists on the outcome of the 301st Monetary Policy Committee’s (MPC) meeting in Abuja.

Cardoso explained that the rise in foreign reserve marked a significant rebound in Nigeria’s foreign currency buffers amid ongoing efforts to stabilize the exchange rate and rebuild investor confidence.

He announced that the Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) decided to retain all key monetary policy parameters during the meeting, making it the seventh consecutive time the MPC would retain the rates.

The Governor of the Apex Bank also pointed out that eight deposit money banks (DMBs) in the country have met the recapitalisation requirements set by the CBN, while others are making progress in meeting the requirements.

The $40.11 billion reserve level representing approximately 9.5 months of import cover, signals a significant boost to country’s foreign currency buffer.