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GOVERNOR of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, has said the recent decline in the country’s external reserves is not a source of concern, pointing instead to improved liquidity in the foreign exchange (FX) market. Cardoso made the remarks on Friday during a joint press briefing with Minister of Finance, Mr Wale […]
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NIGERIA’S gold reserves have climbed to about $3.5 billion, according to the Central Bank of Nigeria (CBN), following the delivery of newly refined gold that meets international standards set by the London Bullion Market Association (LBMA). The apex bank disclosed this in a statement on Wednesday, noting that the gold delivered complies with the LBMA’s […]
NIGERIA’S broad money supply (M3) declined to N123.36 trillion in January 2026, down from N124.4 trillion recorded in December 2025, indicating a slight moderation in liquidity conditions at the start of the year. The figures were disclosed in the latest monetary statistics released by the Central Bank of Nigeria (CBN), which tracks developments in money […]
THE Central Bank of Nigeria (CBN) is still supporting the naira despite claims that it is not. Consequently, the external reserves are falling very fast, slumping to an 8-month low in April 2025. The International Monetary Fund (IMF) defines external reserves or foreign exchange (FX) reserves as “those external assets that are readily available to […]