The Central Bank of Nigeria declared that the $42.01billion external reserves of the country can finance importation of goods and services for more than nine months. This is as the apex bank; assured Nigerians of better economic fortunes in 2025 .The Governor of the apex bank, Mr. Olayemi Cardoso made the declaration during performance index report presentation to the Senate Committee on Banking, Insurance and other Financial Institutions.

According to the CBN Governor, External Reserves rose from $38.35bilion it was on September 30, 2024 , to $42.01billion as of December 12, 2024 .The increase in external reserves within the stated period, he explained was driven largely by receipts from crude oil related taxes and third party receipts in Q3 2024.

On cash shortage, the CBN boss reiterated application of new policy of N150million fine against any branch of Banks caught indulging in illegal distribution of new Naira notes to currency hawkers and unscrupulous elements. He added that the Nigeria economy will take a better shape in 2025 fiscal year, through policies and measures that had been put on ground.