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The naira strengthens as the gap between official and BDC rates narrows to less than two per centNigeria’s external reserves rise above $52 billion, boosting investor confidence and economic stabilityCBN implements key reforms to support sustainable growth and enhances public understanding through the CBN Fair
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The naira is showing renewed strength in the foreign exchange market as the Central Bank of Nigeria (CBN) says the gap between the official exchange rate and Bureau de Change (BDC) rates has narrowed to less than two per cent.
The development, according to the apex bank, signals improving stability in the currency market and growing confidence in the monetary and foreign exchange reforms introduced since 2023.
CBN announces that the exchange rate gap has narrowed amid new reforms. Credit: Picture Alliance/ContributorSource: Getty Images
CBN Governor Olayemi Cardoso disclosed this during
