The Central Bank of Nigeria (CBN) has provided insights into the substantial decrease in the nation’s foreign exchange reserves, attributing it not primarily to defending the naira, as commonly perceived, but rather to partially repay debts owed to creditors. CBN Governor Olayemi Cardoso shed light on this matter during the ongoing International Monetary Fund/World Bank … Continue reading Cardoso Clarifies Declining External Reserves Linked to Debt Repayments