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Olayemi Cardoso

Nigeria’s Foreign Reserves Hit 18-Year High as CBN Reports $55.1 Billion, Raising Hopes for Naira Stability

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Nigeria’s Foreign Reserves Hit 18-Year High as CBN Reports $55.1 Billion, Raising Hopes for Naira Stability

Nigeria’s foreign exchange reserves have climbed to $55.1 billion, their highest level in 18 years, strengthening the country’s external financial position and renewing attention on the Central Bank of Nigeria’s efforts to stabilise the foreign exchange market. The development was disclosed by CBN Governor Olayemi Cardoso during the 2026 Annual Meetings of the International Monetary … Read more

CBN Reveals Nigerian Banks Raised ₦4.65 Trillion in Fresh Capital as Recapitalisation Reshapes Banking Sector

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Nigerian bank recapitalisation

Nigeria’s banking sector has raised ₦4.65 trillion in fresh capital through the Central Bank of Nigeria’s CBN recapitalisation exercise, a development that strengthens the industry’s financial base and raises expectations for increased lending, improved resilience and stronger support for businesses across the country. CBN Governor Olayemi Cardoso disclosed the figures following Nigeria’s participation in the … Read more