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Nigeria’s Foreign Reserves Surge to Three-Year High, Hits $23bn

Nigeria’s Net Foreign Exchange Reserves (NFER) stood at $23.11 billion by the end of 2024, marking the highest level in over three years, according to the Central Bank of Nigeria (CBN). This figure represents a sharp rise from $3.99 billion at the end of 2023, $8.19 billion in 2022, and $14.59 billion in 2021. The […]

CBN Faces Lawsuits as Ex-Employees Challenge Cardoso-Led Restructuring

Disengaged staff of the Central Bank of Nigeria (CBN) have accused the bank’s management, led by Governor Yemi Cardoso, of high-handedness, unfair treatment, and discrimination in its ongoing staff rationalisation exercise. Over 200 employees, including senior executives, were reportedly affected by the exercise, which the staff claim was conducted in a discriminatory and unjust manner. […]

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