Nigeria, Oct. 15 -- The News Chronicle learnt that this movement comes on a short recovery last week when the naira finished at 1,458 per dollar on Friday its highest level since 2024, as the apex bank increased efforts to stabilize the foreign currency market and maintain investor confidence.





Foreign Reserves Expand

From $42.5 billion reported earlier in the week, Nigeria's foreign reserves rose gradually to $42.6 billion, keeping on an upward course from mid-July 2025. Improved crude oil revenues and greater capital inflows-variables that have increased the CBN's capacity to protect the local currency and control speculative activities-analysts credit this growth.



Financial analysts think the improved reserve position indi...