Nigeria, Sept. 22 -- The Central Bank of Nigeria (CBN) has revealed that foreign exchange pressures have receded as Nigeria's external reserves climbed to $55.25 billion. In comparison, the country's current account surplus rose by 67.92 per cent to $7.54 billion in the second quarter of 2026.

The figures were included in the communique from the 307th meeting of the Monetary Policy Committee (MPC) on Tuesday, which noted stronger external-sector fundamentals and improved investor confidence.

CBN cut the benchmark interest rate to 23 per cent from 26.5 per cent to reset the Monetary Policy Rate (MPR) and recalibrate the policy corridor.

According to CBN, the current account surplus increased from $4.49 billion in the first quarter to $7...