Nigeria’s external reserves hit 4-month high, near $50bn

Nigeria's foreign exchange reserves have reached $49.26 billion as of May, marking a four-month high and approaching the notable $50 billion threshold. This increase is attributed to enhanced foreign currency inflows and ongoing market reforms that have bolstered the nation's external financial standing. The rise in reserves reflects the country's efforts to stabilize its economy and manage its foreign exchange needs effectively.

Read More