Naira Strengthens to Seven-Month High as Nigeria’s Foreign Reserves Rise by $4.1bn

Story: written by Zara Esther September 11,2025
The Nigerian naira has surged to its strongest level in seven months, buoyed by a $4.1 billion increase in the country’s foreign exchange reserves.

The reserves boost, which comes amid ongoing efforts by the Central Bank of Nigeria (CBN) to stabilize the currency, has strengthened investor confidence and eased pressure on the foreign exchange market.

Analysts say the improved reserve position provides the apex bank with greater capacity to intervene in the FX market, reducing volatility and supporting the naira’s upward trend.

The latest development marks a significant shift for Africa’s largest economy, which has faced persistent currency challenges in recent years, driven by declining oil revenues, rising import bills, and capital outflows.

Financial experts note that sustained reforms, stronger inflows from oil exports, remittances, and foreign investments will be key to maintaining currency stability in the months ahead.

The naira’s rebound is expected to lower inflationary pressure on imported goods and boost business confidenc