The naira appreciated strongly on Monday at both the official and parallel foreign exchange markets, opening the new week on a positive note. Data from the Central Bank of Nigeria showed that the naira gained significantly, closing at N1,506.84 per dollar on Monday, compared to N1,514.87 on Friday. This indicates that the currency strengthened by…
Nigeria’s external reserves have recorded a sustained rebound for the first time in 2025, rising by $364 million between April 30 and May 14, 2025. This marks the first consistent two-week upward trend in the country’s foreign reserves since they peaked on January 6, 2025, at $40.92 billion. According to the latest figures published by…
Nigeria’s Net Foreign Exchange Reserve (NFER) as of the end of 2024 stood at $23.11 billion, the highest level in over three years, reflecting a substantial improvement in the country’s external liquidity, reduced short-term obligations, and renewed investor confidence. A statement by the Central Bank of Nigeria (CBN), the increase marked an increase from $3.99…
Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), says the country’s foreign reserves rose by 12.74 percent to $39.12 billion as of October 11. Cardoso spoke on Tuesday when he appeared before the house of representatives committee on banking regulation. The CBN governor said the country’s reserves stood at $34.70 billion at the…