{"id":1063,"date":"2026-03-06T04:16:04","date_gmt":"2026-03-06T04:16:04","guid":{"rendered":"https:\/\/facthubafrica.com\/?p=1063"},"modified":"2026-03-06T04:16:04","modified_gmt":"2026-03-06T04:16:04","slug":"cbn-announces-3-5bn-gold-reserves-despite-nairas-freefall-against-us-dollar","status":"publish","type":"post","link":"https:\/\/facthubafrica.com\/index.php\/2026\/03\/06\/cbn-announces-3-5bn-gold-reserves-despite-nairas-freefall-against-us-dollar\/","title":{"rendered":"CBN announces $3.5bn gold reserves despite naira\u2019s freefall against US dollar"},"content":{"rendered":"<p><strong>The Central Bank of Nigeria, CBN, has announced that the country\u2019s total gold holdings reached $3.5 billion despite the free fall of the naira against the dollar at the official foreign exchange market<\/strong>.<\/p>\n<p>&nbsp;<\/p>\n<p>A statement by the apex bank on Thursday said the gold was sourced locally in Nigeria and aggregated by the Solid Minerals Development Fund, SMDF, under the National Gold Purchase Programme, NGPP.<\/p>\n<p>&nbsp;<\/p>\n<p>Commenting on the development, CBN Governor Olayemi Cardoso said that the apex bank acquired the monetary-grade gold in naira, with pricing linked to London Bullion Market Association, LBMA, benchmarks.<\/p>\n<p>This comes as it was reported that the naira sustained its depreciation streak against the dollar, dipping by N37.85 in the past nine days to stand at N1,387.09\/$ on Wednesday.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<div class='heateorSssClear'><\/div><div  class='heateor_sss_sharing_container heateor_sss_horizontal_sharing' data-heateor-sss-href='https:\/\/facthubafrica.com\/index.php\/2026\/03\/06\/cbn-announces-3-5bn-gold-reserves-despite-nairas-freefall-against-us-dollar\/'><div class='heateor_sss_sharing_title' style=\"font-weight:bold\" ><\/div><div class=\"heateor_sss_sharing_ul\"><a aria-label=\"Facebook\" 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style=\"background-color:#2a2a2a;width:35px;height:35px;border-radius:0px;display:inline-block;opacity:1;float:left;font-size:32px;box-shadow:none;display:inline-block;font-size:16px;padding:0 4px;vertical-align:middle;background-repeat:repeat;overflow:hidden;padding:0;cursor:pointer;box-sizing:content-box\"><svg width=\"100%\" height=\"100%\" style=\"display:block;\" focusable=\"false\" aria-hidden=\"true\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 32 32\"><path fill=\"#fff\" d=\"M21.751 7h3.067l-6.7 7.658L26 25.078h-6.172l-4.833-6.32-5.531 6.32h-3.07l7.167-8.19L6 7h6.328l4.37 5.777L21.75 7Zm-1.076 16.242h1.7L11.404 8.74H9.58l11.094 14.503Z\"><\/path><\/svg><\/span><\/a><a aria-label=\"Whatsapp\" class=\"heateor_sss_whatsapp\" href=\"https:\/\/api.whatsapp.com\/send?text=CBN%20announces%20%243.5bn%20gold%20reserves%20despite%20naira%E2%80%99s%20freefall%20against%20US%20dollar%20https%3A%2F%2Ffacthubafrica.com%2Findex.php%2F2026%2F03%2F06%2Fcbn-announces-3-5bn-gold-reserves-despite-nairas-freefall-against-us-dollar%2F\" title=\"Whatsapp\" rel=\"nofollow noopener\" target=\"_blank\" style=\"font-size:32px!important;box-shadow:none;display:inline-block;vertical-align:middle\"><span class=\"heateor_sss_svg\" style=\"background-color:#55eb4c;width:35px;height:35px;border-radius:0px;display:inline-block;opacity:1;float:left;font-size:32px;box-shadow:none;display:inline-block;font-size:16px;padding:0 4px;vertical-align:middle;background-repeat:repeat;overflow:hidden;padding:0;cursor:pointer;box-sizing:content-box\"><svg style=\"display:block;\" focusable=\"false\" aria-hidden=\"true\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"100%\" height=\"100%\" viewBox=\"-6 -5 40 40\"><path class=\"heateor_sss_svg_stroke heateor_sss_no_fill\" stroke=\"#fff\" stroke-width=\"2\" fill=\"none\" d=\"M 11.579798566743314 24.396926207859085 A 10 10 0 1 0 6.808479557110079 20.73576436351046\"><\/path><path d=\"M 7 19 l -1 6 l 6 -1\" class=\"heateor_sss_no_fill heateor_sss_svg_stroke\" stroke=\"#fff\" stroke-width=\"2\" fill=\"none\"><\/path><path d=\"M 10 10 q -1 8 8 11 c 5 -1 0 -6 -1 -3 q -4 -3 -5 -5 c 4 -2 -1 -5 -1 -4\" fill=\"#fff\"><\/path><\/svg><\/span><\/a><\/div><div class=\"heateorSssClear\"><\/div><\/div><div class='heateorSssClear'><\/div><p>The Central Bank of Nigeria, CBN, has announced that the country\u2019s total gold holdings reached $3.5 billion despite<\/p>\n","protected":false},"author":3,"featured_media":814,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[83,3],"tags":[234,277],"class_list":["post-1063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-markets","category-cover","tag-cbn","tag-gold-reserves"],"aioseo_notices":[],"featured_image_urls":{"full":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/CBN-Governor-Yemi-Cardoso-750x500-1.png",750,500,false],"thumbnail":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/CBN-Governor-Yemi-Cardoso-750x500-1-300x300.png",300,300,true],"medium":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/CBN-Governor-Yemi-Cardoso-750x500-1-300x200.png",300,200,true],"medium_large":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/CBN-Governor-Yemi-Cardoso-750x500-1.png",640,427,false],"large":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/CBN-Governor-Yemi-Cardoso-750x500-1.png",640,427,false],"1536x1536":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/CBN-Governor-Yemi-Cardoso-750x500-1.png",750,500,false],"2048x2048":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/CBN-Governor-Yemi-Cardoso-750x500-1.png",750,500,false],"morenews-large":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/CBN-Governor-Yemi-Cardoso-750x500-1.png",750,500,false],"morenews-medium":["https:\/\/facthubafrica.com\/wp-content\/uploads\/2026\/02\/CBN-Governor-Yemi-Cardoso-750x500-1-590x410.png",590,410,true]},"author_info":{"info":["Publisher"]},"category_info":"<a 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