Nigeria's Foreign Exchange Reserves Soar to $40.8 Billion Following Eurobond Auction

Nigeria's foreign exchange reserves increased by $591.78m in January following a $2.2bn Eurobond auction on December 2, 2024. The reserves now stand at $40.8bn.

Nigeria's foreign exchange reserves have jumped to $40.8 billion, a one-month surge of $591.78 million following the government's $2.2 billion Eurobond auction on December 2. This significant increase marks a substantial recovery for the nation's foreign currency holdings, which had been dwindling in recent months. The Central Bank of Nigeria has reported this notable growth, providing a welcome boost to the country's economic stability. As of today, Nigeria's reserves stand at $40.8 billion, up from their previous value.