Nigeria’s external reserves rise to $46.7 billion in November 2025
Nigeria’s foreign currency holdings have reached $46.7 billion, providing more than ten months of import coverage as the Central Bank attributes the expansion to consistent capital inflows and heightened investor activity across multiple financial instruments. Governor Olayemi Cardoso, speaking through Deputy Governor Muhammad Sani Abdullahi at an anniversary event for the bank’s Monetary Policy Department, connected the increase to improved petroleum revenues, stronger payment balances and renewed portfolio investments following sovereign rating upgrades by major international agencies.
The banking authority highlighted removal from the Financial Action Task Force monitoring list as another factor restoring international credibility while demonstrating compliance with global money laundering and terrorism financing standards. Cardoso emphasized the institution’s transition toward comprehensive inflation targeting as essential for managing price expectations and enhancing policy transmission effectiveness.
Monetary Policy Department Director Victor Oboh noted the unit has evolved into a strategic center supporting decision-making committees through specialized divisions covering macroeconomic assessment, international relations and research coordination while preparing for challenges including digital currencies and climate-related financial risks.
