Nigeria’s foreign reserves deplete by $499.46m in less than two weeks

Nigeria’s overseas reserves depleted by $499.46 cardinal to $49.53 cardinal successful little than 2 weeks from $50.02 billion.

This is according to the Central Bank of Nigeria’s outer reserves question information betwixt March 11 and 25, 2026.

The information indicates that the country’s outer reserves reduced by astir 1 percent wrong the play nether reappraisal arsenic Naira to Dollar stood astatine N1,383.88 connected Thursday.

The fig is abbreviated of the apex slope governor, Olayemi Cardoso’s, 2026 projection of $51.04 cardinal astatine the 2026 Macroeconomic Outlook for Nigeria compared to $45.01 cardinal successful 2025.

“The outer reserves are projected astatine US$51.04 cardinal successful 2026, compared with US$45.01 cardinal successful 2025,” Cardoso said.

DAILY POST reports that the driblet successful outer reserves comes astatine a clip the apex slope announced sweeping policies expected to thrust reforms.

Recently, the CBN mandated International Money Transfer Operators to way transactions done designated Naira colony accounts.

Also, the slope reversed its argumentation of currency pooling requirements for planetary lipid companies operating successful Nigeria, allowing 100 percent repatriation of export earnings.

Read Entire Article