Nigeria’s net FX reserves surged to $23.11bn in 2024 – CBN

Nigeria’s Net Foreign Exchange Reserves rose significantly to $23.11bn at the end of 2024, marking the highest level in over three years, according to the Central Bank of Nigeria.

In a press statement on Tuesday, the apex bank noted that this represents a significant jump from $3.99bn recorded at the end of 2023, $8.19bn in 2022, and $14.59bn in 2021.

The statement read, “NFER stood at $23.11bn, the highest level in over three years, a…