Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has reiterated the bank’s commitment and efforts to stabilise the foreign exchange market and curb inflation, emphasising progress in restoring investor confidence and macroeconomic stability.
Speaking during a visit by a Harvard Kennedy School (HKS) delegation, Cardoso highlighted key reforms under his leadership, including the unification of Nigeria’s exchange rate system and the clearance of a $7 billion FX backlog.
These measures, have boosted foreign reserves to over $40 billion, the highest in nearly three years, while attracting significant foreign portfolio inflows.