Nigeria’s foreign exchange reserves recorded a notable recovery in May 2026, increasing by approximately $551 million within the first three weeks of the month after facing pressure in April.
According to data released by the Central Bank of Nigeria (CBN), the country’s gross external reserves rose from $48.34 billion on May 4 to $48.89 billion as of May 21, 2026.
The increase reflects an improvement in Nigeria’s external liquidity position, alongside renewed confidence in the foreign exchange market.
The latest figures suggest a short-term rebound in reserves following earlier declines, pointing to stabilising conditions in the country’s external accounts.
