Nigeria's external reserves decreased by $731 million between April 1 and April 23, 2026, according to data from the Central Bank of Nigeria. The reserves fell from $49.18 billion to $48.45 billion during the period, marking an average weekly decline of approximately $233 million. The drop reflects ongoing pressure on the country's foreign exchange reserves. Figures were obtained from official CBN records and reported by Nairametrics. No official explanation was provided for the drawdown. The decline occurred within the first three weeks of April, with no additional details on the causes or specific interventions. The CBN has not issued a public statement addressing the reduction.
The Central Bank of Nigeria reported a $731 million drop in reserves but offered no reason for the outflow. This lack of transparency leaves Nigerians in the dark about how foreign exchange is being managed. With reserves declining at a rate of over $200 million weekly, questions remain unanswered about the sustainability of current policies. The silence from the CBN undermines public confidence in the stability of the nation's financial buffers.
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