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CBN Says Forex Gap Has Fallen Below 2% as External Reserves Reach $52.5bn

CBN Says Forex Gap Has Fallen Below 2% as External Reserves Reach $52.5bn

The Central Bank of Nigeria says its monetary reforms are helping to stabilise the foreign exchange market, build external reserves and ease inflation. Speaking at the CBN Fair in Gombe, Governor Olayemi Cardoso said headline inflation declined from 15.93% in May 2026 to 15.91% in June. He added that the gap between official and Bureau de Change exchange rates had fallen below 2%. Nigeria’s external reserves rose above $52.5 billion as of 17 July 2026, according to the CBN. The bank said the level was its highest in 17 years and credited sustained inflows and improved investor confidence. The CBN also highlighted reforms including FX market unification, bank recapitalisation, the B-Match trading system and payment-system initiatives. It said these measures are intended to support growth, financial inclusion and lower inflationary pressure.

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E
emeka

If the forex gap is now below 2%, what changes should businesses and ordinary buyers expect to notice first?

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Y
yemi

Will the lower gap translate into more stable prices for imported goods and business inputs?

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H
hala

The reserve figure and slight inflation decline suggest the reforms may be gaining some traction, though people will judge it by everyday costs.

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G
grace

A drop from 15.93% to 15.91% is quite small, so it may be too early to call inflation pressure meaningfully eased.

0
K
kris

Businesses should watch exchange-rate pricing, import costs and inflation data over several months before changing budgets or stock plans.

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