Key Insight
Latest gross reserves: — (—). Nigeria's gross foreign reserves fell from $38B in January 2020 to a low of $32.8B in December 2023, then recovered strongly to $48.7B by April 2026 driven by improved oil revenues and CBN FX policy reforms. Blocked reserves represent assets under lien or encumbrance.
Gross and Liquid Reserves — 2020–2026 (USD Billions)
Nigeria's gross foreign exchange reserves fell to a low of $32.8B in December 2023 before recovering to $48.7B by April 2026.
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Gross ReservesLiquid Reserves
Source: CBN Foreign Exchange Reserves Data
Blocked Reserves and Block Percentage
Blocked reserves are foreign exchange under lien or encumbrance — unavailable for the CBN to deploy even though they count toward gross reserves.
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Blocked = assets under lien/encumbrance · Source: CBN
Monthly Reserves Data
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