$52.73 billion — that's where Nigeria's gross external reserves sit after climbing 7.9% from $48.88 billion in January, according to CBN Governor Olayemi Cardoso, who disclosed the figure before the Senate Committee on Banking, Insurance, and Other Financial Institutions. More striking: net external reserves have surged over 900% to exceed $40 billion, compared to a meagre $3.99 billion in 2023.

Money Moves

• **Reserves build on forex...