Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has announced a significant improvement in the country’s external position. Speaking at the BusinessDay CEO Forum in Lagos, Cardoso revealed that Nigeria’s net foreign exchange reserves have surged to approximately $40 billion, up from roughly $3 billion at the onset of the current administration’s economic reforms. Additionally, gross external reserves have reached about $52 billion. Cardoso cited these figures as proof of restored market confidence and stability, urging local business leaders to leverage the improved macroeconomic environment to drive further investment and economic growth.