Nigeria’s FX reserves hit $42bn, strongest in six years
Nigeria’s external reserves have climbed to their highest level in six years, crossing the $42bn mark for the first time since September 2019. Latest figures from the Central Bank of Nigeria (CBN) show reserves stood at $42.03bn on September 19, 2025, up from $41.99bn the previous day. This represents a $40m increase in one day and a sharp rebound from earlier lows this year. The last time reserves were higher was on September 26, 2019, when they reached $42.05bn. Since then, reserves have come under pressure from weaker oil prices, high import demand, and foreign capital outflows. Unlike past temporary spikes, the current rally has shown consistency. Reserves have grown for 13 out of 14 trading days in September, gaining $610.8m (1.47%) between September 1 and 19 alone. In the second half of the month, reserves rose by nearly $583m […]