Naira Defies Doubters as CBN War Chest Hits $54B but FX Turnover Crashes to Five-Month Low

The Naira showed remarkable resilience this week, firming to N1,320/$ on Monday after testing the N1,302–1,315 range all week — a steady grind toward the psychological N1,300 barrier that's starting to look less like a dead cat bounce and more like a trend.

• CBN Reserves: The Central Bank's foreign exchange holdings surged to $54.08 billion — an 18-year high last seen in December 2008. This is $3 billion above the CBN's own 2026 projection,...