Nigeria’s external reserves have risen to $50.12 billion, their highest level in more than 17 years.
Latest data from the Central Bank of Nigeria (CBN) showed that gross external reserves stood at $50.12 billion as of June 5, 2026.
This is up from $38.28 billion recorded on June 5, 2025, a year-on-year increase of 30.9 per cent.
The build-up adds about $11.84 billion to the nation’s reserve stock within 12 months.
It is also the first time reserves have crossed the $50 billion threshold since January 26, 2009, when they stood at $50.58 billion.
Historical data show reserves remain below the all-time high of $64.85 billion recorded on August 8, 2008.
At the current level, reserves are about $14.73 billion below that peak, but substantially higher than most of the past decade.
Reserves Follow Upward Trend Through 2025 And 2026
The rise has been especially strong over the past year.
From $38.28 billion on June 5, 2025, reserves climbed steadily to reach $50.12 billion by June 5, 2026.
Over 12 months, reserves moved from $37.21 billion on June 30, 2025, to $50.12 billion on June 5, 2026.
The data shows reserves closed July 2025 at $39.36 billion, rose to $41.31 billion in August and $42.35 billion in September.
They continued to rise in the final quarter of 2025, reaching $43.20 billion in October, $44.67 billion in November and $45.50 billion by December 31, 2025.
The build-up accelerated in 2026, with reserves climbing to $46.28 billion at the end of January and $49.69 billion by February 27.
After a slight dip to $49.24 billion in March and $48.36 billion in April, reserves rebounded to $49.58 billion by May 29.
They then reached a new multi-year high of $50.12 billion on June 5, 2026.
Within the 12-month period, the lowest level was $37.18 billion on July 3, 2025, while the highest is the current $50.12 billion.
This represents an increase of about $12.94 billion between the low and high points.
At this level, Nigeria’s foreign currency buffers are stronger than in recent years, improving the country’s external position.
OMO Bills Dominate Fixed Income Market
Meanwhile, Open Market Operation (OMO) bills dominated activity in Nigeria’s fixed income secondary market, with ₦655.88 billion in transactions.
Data from the Fixed Income Dashboard showed total turnover across fixed income instruments stood at ₦882.35 billion from 346 trades.
OMO bills accounted for nearly three-quarters of the value traded during the session.
The OMO segment recorded 127 trades involving 15 participants, showing strong demand for short-dated instruments.
Treasury bills recorded ₦74.86 billion from 132 trades, while Federal Government of Nigeria (FGN) bonds accounted for ₦121.61 billion across 81 transactions.
Sukuk instruments recorded ₦30 billion from six deals.
The July 28, 2026 OMO bill was the most traded, with ₦202.25 billion across 25 deals.
Yields in the OMO segment remained high, with the June 23, 2026 and July 28, 2026 bills closing at 21.68 per cent and 21.63 per cent.
The trading pattern shows investors are focusing on short-term returns, with OMO bills attracting most liquidity.
This fixed income activity comes as Nigeria’s external reserves strengthen, adding to the country’s financial buffers.
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