•Gross external reserves at $50.45 billion (mid‑Feb 2026), the highest in 13 years.
••Reserve gains supported by favourable trade, a healthy current account surplus, rising non‑oil exports and diaspora remittances.
The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, reported encouraging developments in the country’s financial system.
Bank recapitalisation
• 20 banks have fully met the new minimum capital requirements.
• 13 additional banks are at advanced stages and are expected to meet the deadline.
• Total verified capital raised to date: ₦4.05 trillion
• Domestic: ₦2.90 trillion (71.67%)
• Foreign: US$706.84 million (₦1.15 trillion, 28.33%)
This mix of domestic and foreign funding signals broad investor confidence. Banks under regulatory intervention remain closely supervised, and depositor funds are secure.
External reserves and macro stability
Nigeria’s gross external reserves stood at $50.45 billion in mid‑February 2026—the highest level in 13 years—supported by favourable trade dynamics, a healthy current account surplus, rising non‑oil exports, steady diaspora remittances, and renewed market confidence.
Inflation and policy stance
The decline in inflation reflects the cumulative effect of contractionary monetary policy, improved FX stability, robust capital inflows, and a stronger balance of payments. The CBN will maintain tightening measures to anchor inflation expectations.
Operational resilience
The Bank is also enhancing cybersecurity and operational risk standards across fintechs to strengthen the resilience of the financial ecosystem.
The Governor concluded by urging all stakeholders to maintain discipline to achieve sustainable growth.
