Nigerian Mined LBMA Standard Gold Now In CBN Reserves

Nigerian mined gold refined to London Bullion Market Association (LBMA) Good Delivery standards is now officially part of the Central Bank of Nigeria’s foreign reserves, marking a major milestone in the country’s push for resource‑backed economic stability. 

The CBN confirmed that it has taken delivery of responsibly sourced, locally mined and locally refined bullion, aggregated through the Solid Minerals Development Fund (SMDF) under the National Gold Purchase Programme (NGPP). 

This addition raises Nigeria’s total gold holdings to about $3.5 billion.