The Governor, Central Bank of Nigeria (CBN), Mr. Yemi Cardoso on Tuesday revealed that Nigeria’s foreign reserves have climbed to $40.11 billion as of July 2025.
He disclosed this during the Monetary Policy Committee (MPC) briefing held in Abuja.
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.
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