How Nigeria’s Foreign Reserve is Getting Stronger- CBN Gov
By Patience Ikpeme
The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, has shared some good news about the country’s foreign currency reserves.
He explained that Nigeria’s savings in foreign currency grew significantly by the end of 2025. This growth shows that the new rules and changes made by the bank are working to make the economy stronger.
Speaking about the latest numbers, Mr. Cardoso said that Nigeria’s total foreign reserve reached $50.45 billion by February 16, 2026. He also mentioned that the “net” savings, which is the actual clear balance the country has, rose to $34.80 billion by the end of December 2025. This is a very big jump from the $3.99 billion recorded at the end of 2023.
“The figures show the benefits of increased transparency and credibility in how we manage foreign exchange,” the Governor said. He noted that because the bank is now more open about how it handles money, more investors are bringing their dollars into Nigeria. This helps the country keep enough cash available to support the economy for a long time.
Mr. Cardoso explained that the improvement over the last three years shows that Nigeria’s financial foundation is getting much better. He pointed out that the $34.80 billion saved at the end of 2025 is even higher than the total $33.22 billion the country had in its general accounts back in 2023. This means the quality of Nigeria’s savings has improved in a major way.
Between 2024 and 2025 alone, the country’s savings grew by over $5 billion. The Governor said this growth proves that Nigeria now has an “enhanced capacity to meet external obligations, support exchange rate stability, and reinforce overall macroeconomic resilience.” This means the country is now in a better position to pay its international bills and keep the Naira steady.
The Governor described the 2025 savings as a “strong validation” of the hard work and new policies the Central Bank is using. He promised that the CBN will keep working to maintain these savings to make sure the market stays calm and that Nigerians can trust the country’s financial future.
