Nigeria’s foreign reserves surpass annual target, rise above $52.5bn – CBN
She explained that the reforms introduced under the leadership of the CBN Governor are producing measurable gains, including improved macroeconomic stability, easing inflation and increased confidence in the foreign exchange market.
Speaking at a CBN Fair in Gombe, the Acting Director of Corporate Communications and Investor Relations Department of the CBN, Mrs Hakama Sidi Ali, who delivered the opening remarks of the CBN Governor, Mr Olayemi Cardoso, attributed the increase to stronger foreign exchange inflows and renewed investor participation across different asset classes, saying the trend reflects growing confidence in the country’s economic management and ongoing reforms.
She also highlighted other reforms implemented by the apex bank over the past 34 months, including banking sector recapitalisation, the launch of the Non-Resident Bank Verification Number (NRBVN), the B-Match foreign exchange trading platform, the Nigeria Payments System Vision 2028 and the introduction of the Nigerian Overnight Financing Rate benchmark.
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