Billions in Nigeria’s Reserves, But Where is the Growth?

By Blaise Udunze The moment the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, recently announced that Nigeria’s foreign reserves had inched to $49 billion as of February 5, 2026, the news was received with understandable enthusiasm. He described the development as “a very important statistic” when speaking at the 2nd National Economic

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