Nigeria’s external reserves climbed by over $1 billion in the first half of June 2026, strengthening the country’s foreign exchange buffers, according to Central Bank of Nigeria (CBN) data.
The International Monetary Fund (IMF) has assessed that the naira remains undervalued by 25.6%, despite recent gains following Nigeria’s foreign exchange reforms.
The Central Bank of Nigeria (CBN) absorbed about N6.88 trillion from the financial system through Open Market Operations (OMO) in the first two weeks of June 2026, according to data released June 11.
The Central Bank of Nigeria (CBN) has directed banks, fintechs, mobile money operators, and other payment service providers to store all payment transaction data generated in Nigeria on local servers.
At the centre of this conversation is the Central Bank of Nigeria (CBN), the institution tasked with maintaining financial stability while encouraging innovation in one of Africa's most dynamic digital economies.
