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Nigeria’s net foreign exchange reserves have surged to approximately forty billion dollars as ongoing monetary reforms begin to yield fruits. Central Bank Governor Olayemi Cardoso announced the milestone at the BusinessDay CEO Forum in Lagos. The dramatic recovery marks a massive rebound from the critically low three billion dollars recorded at the start of his…
Nigeria’s gross external reserves climbed to a major high of $51 billion, expanding the state’s financial firepower to defend the local currency. Data published by the Central Bank of Nigeria shows a massive $13.3 billion accretion over the past 12 months. This substantial fiscal cushion marks a complete turnaround from the severe depletion recorded during…
