The nation’s foreign reserve has risen to over $46 billion, according to the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso.
Cardoso, who was represented by the Deputy Governor Economic Policy Directorate, Dr. Muhammad Abdullahi, disclosed this at the opening of the Monetary Policy Department’s 20th anniversary colloquium at the CBN headquarters in Abuja
He said it was the first time the country had reached such a level since 2018, adding that the number could cover over 10 months of imports.
According to the deputy governor, lending rates may decline in the coming months as inflation continues to ease, raising hopes for improved access to credit and stronger investment flows.