Nigeria’s Foreign Reserves Hit $40.88 Billion

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has announced that the country’s foreign reserves have increased to $40.88 billion as of November 21, reflecting a rise of $82 million or 2.05 percent, compared to $40.06 billion recorded at the end of October.  

Speaking at the Monetary Policy Committee’s 298th meeting in Abuja, Cardoso attributed the improvement to sustained efforts by the apex bank. He emphasised the CBN’s ongoing commitment to stabilising the naira and controlling inflation.  

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Mr. Cardoso also highlighted that the currency has shown greater stability compared to the volatility experienced in June, reaffirming the bank’s dedication to ensuring financial stability in the country.