Nigeria's Naira Gains Global Competitiveness After Economic Reforms - CBN Governor

Yemi Cardoso, Governor of the Central Bank of Nigeria, highlighted the Naira's increased global competitiveness following economic reforms. He spoke during a G24 media briefing at the IMF and World Bank annual meetings in Washington, praising Nigeria's proactive measures to create resilience against economic shocks.

Cardoso attributed the Naira's strength to a positive trade balance, encouraging domestic production and discouraging imports. He commended G24's progress under Argentina's leadership and expressed optimism about the group's future.

The Naira traded at N1.463 to the U.S. dollar, showing stability and investor confidence due to monetary policy adjustments.