CBN: Nigeria’s Net External Reserves Rose from $859m in 2023 to $40bn The Central Bank of Nigeria (CBN) has disclosed that Nigeria’s net usable external reserves stood at just $859 million in the second quarter of 2023, before rising to about $40 billion under the current administration of Governor Olayemi Cardoso. The CBN Deputy Governor,
Senate Moves to Strengthen Nigeria’s Financial System Through Coordinated Reforms The Senate Committee on Banking, Insurance and Other Financial Institutions has intensified efforts to strengthen Nigeria’s financial system through closer collaboration with regulators and industry stakeholders. The committee convened an expanded stakeholders’ engagement in Lagos on Saturday, bringing together representatives of key financial institutions, including
Nigeria’s Foreign Reserves Rise to $52.5bn, Highest in 17 Years — CBN Nigeria’s foreign exchange reserves have risen above $52.5 billion, reaching their highest level in 17 years, the Central Bank of Nigeria (CBN) has said. The CBN attributed the increase to stronger foreign exchange inflows and renewed investor confidence in the Nigerian economy. Acting
Nigeria’s headline inflation saw a decrease in June 2026, marking the first decline since February. This comes as the Central Bank of Nigeria (CBN) is scheduled to decide on the country’s interest rate on July 21. The National Bureau of Statistics, in its Consumer Price Index and inflation data released on Wednesday, stated that Nigeria’s