The Central Bank of Nigeria (CBN) has said its ongoing reforms are paying off, with falling inflation, a stronger Naira and external reserves at a 17-year high.
The apex bank put gross external reserves above $52.5 billion as of July 17, 2026, sufficient to finance about 11 months of imports — well above the three-month international benchmark.
The acting director, Corporate Communications Department, Mrs Hakama Sidi Ali, stated this yesterday at the CBN Fair in Lafia, Nasarawa State.
She said headline inflation is moderating. Citing data from the National Bureau of Statistics, (NBS), she disclosed that headline inflation eased from 15.91 per cent in June to 15.43 per cent in July, while food and core inflation also declined.
Other data from the briefing cycle showed inflation had risen to 15.93 per cent in May before easing slightly to 15.91 per cent in June.
According to her, the Naira has continued to strengthen, with the spread between the official and Bureau De Change, BDC, rates now below two per cent.
