Nigeria’s foreign reserves have risen to over $46 billion, marking a major milestone for the nation’s economy.

The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, revealed this on Tuesday morning during the opening session of the Monetary Policy Department’s 20th anniversary colloquium in Abuja.

According to Cardoso, this is the first time since 2018 that the country’s reserves have reached this level.

He noted that the improved reserve position provides greater financial stability, adding that the current level is sufficient to cover over 10 months of imports.

Details later…