Nigeria’s foreign reserves hit $49bn - News Summed Up

Nigeria’s foreign reserves hit $49bn


The proposals include instant reversals, real-time transaction tracking, and a mandatory suspension of airtime and data sales during network downtimes. He explained that the apex bank now allows the foreign exchange market to largely determine prices, while intervening mainly to purchase forex when necessary. There is predictability, and you can plan.”Cardoso warned Nigerians holding foreign currency without a genuine need that such behaviour could result in losses. “Those holding unnecessary foreign exchange reserves are losing money every day,” he said. It applies to all stakeholders in the airtime and data transaction ecosystem.


Source: Nigerian Tribune February 10, 2026 01:44 UTC



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