Nigeria’s foreign-exchange buffers have regained momentum, topping $50 billion for the first time in about three months as the Central Bank of Nigeria reported a fresh rise in external reserves. Latest figures put the country’s external reserves at $50.04 billion as of June 4, 2026, marking a gain of $1.70 billion, or 3.52%, from the $48.34 billion level recorded during the same period in May.
The latest update continues a pattern of improvement that began earlier in the month, with the reserves remaining on an upward path since May 6, 2026, when they were at $48.36 billion. Central bank data also shows that this is not the first time Nigeria has crossed the $50 billion line this year: the last occasion the reserves were above that threshold was on March 12, 2026.
Even with reserves strengthening, the naira has not moved in a straight line against the US dollar in the official foreign exchange market. The currency finished Friday, June 5, 2026, at N1,362.21 per dollar, which translated into an appreciation of N4.34 compared with the corresponding period a month earlier.
