Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has said Nigeria’s fiscal crisis forced policymakers to explore alternative sources of revenue and foreign exchange, warning that dependence on oil earnings

Nigeria’s foreign exchange reserves climbed to $58.81 billion on October 12, moving close to their highest level in nearly 18 years after a sharp increase in the country’s dollar holdings

Nigeria’s external reserves have risen to $54.08 billion, exceeding the CBN’s 2026 projection and reaching the highest level since 2008.