The Central Bank of Nigeria announced a substantial rise in the country’s gross external reserves, which now total $43 billion as of 11 September 2025. CBN Governor Olayemi Cardoso disclosed the figure after the 302nd Monetary Policy Committee meeting in Abuja. The reserve has increased from $40.51 billion at the end of July 2025, providing import coverage of 8.28 months.
Cardoso also reported that the current‑account balance for the second quarter of 2025 posted a surplus of $5.28 billion, up from $2.85 billion in the first quarter, signaling an improvement in Nigeria’s economic performance.
In parallel, 14 Nigerian banks have fully complied with the new capital requirements introduced by the CBN as part of its ongoing recapitalisation exercise. The minimum capital base varies by licence type: commercial banks with international authorisation must hold at least ₦500 billion, while those with national authorisation need ₦200 billion. Merchant banks and non‑interest banks are subject to their own specific capital thresholds. This recapitalisation aims to strengthen the banking sector and ensure its stability. It follows a similar exercise in 2004, when the CBN raised the minimum capital requirement from ₦2 billion to ₦25 billion, prompting significant consolidation in the sector. The current effort is expected to produce comparable benefits, enhancing the banks’ capacity to support the economy.
Additionally, the CBN reduced the Monetary Policy Rate by 50 basis points, from 27.5 percent to 27 percent, to stimulate growth by making borrowing cheaper. The rise in external reserves and the bank recapitalisation are key developments that should make Nigeria more attractive to investors and bolster economic expansion.
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