Nigeria's foreign reserves rise above $50bn to $50.04bn, highest since March
Nigeria’s external reserves have climbed above the $50 billion mark for the first time in three months, reaching $50.04 billion as of June 4, 2026, according to Central Bank of Nigeria data. This represents a $1.70 billion increase (3.52 %) from the $48.34 billion recorded in May and follows a steady upward trend since May 6, when reserves stood at $48.36 billion. The last time reserves exceeded $50 billion was on March 12, 2026. Despite the reserve gain, the naira continued to fluctuate at the official FX market, closing at ₦1,362.21 per dollar on June 5—an appreciation of ₦4.34 compared with the same period last month. The reserve build‑up may support import financing, ease external debt pressures and bolster investor confidence, while the lingering naira volatility suggests that exchange‑rate management remains a challenge. For businesses and individuals, the development signals a potentially more stable environment for foreign‑currency transactions, but it is wise to monitor both reserve trends and FX rates when planning imports, overseas payments or investments.