Nigeria’s external reserves have climbed to $40.11 billion as of July 2025, according to the Central Bank Governor, Yemi Cardoso.
He disclosed this during the Monetary Policy Committee (MPC) briefing held on Monday, July 22, 2025.
Cardoso noted that the $40.11 billion reserve level represents approximately 9.5 months of import cover, signaling a significant boost to Nigeria’s foreign currency buffer.
This is the highest level recorded since November 2024 when it hit $40.2 billion
making this a significant rebound in Nigeria’s foreign currency buffers amid ongoing efforts to stabilize the exchange rate and rebuild investor confidence.
More details to follow…