A sharp rise in foreign-currency liquidity across Nigeria’s banking sector is reducing the risk around about $1.7 billion of Eurobonds due in 2026, even as the Central Bank of Nigeria pivot to easing cycle is changing how investors earn from fixed income, equities, and deposits.
Fitch Ratings, in a report released Friday, said stronger dollar inflows and higher external reserves have left banks with enough foreign-currency cash to meet upcoming obligations without rushing to refinance.
Nigeria’s gross reserves increased to $46.3 billion in January 2026 from $32.2 billion in April 2024, helping the central bank clear overdue forex forwards and settle swaps with lenders.
