Nigeria, May 25 -- The News Chronicle reports that the latest figures released by the Central Bank of Nigeria showed the nation's gross reserves increased from $48.34 billion on May 4 to about $48.89 billion by May 21, reflecting renewed confidence in the foreign exchange market and improving investor sentiment around the economy.



The rebound comes after weeks of decline, triggered by foreign exchange interventions, debt-servicing obligations, and global financial pressures, which dragged reserves lower throughout April. Data from the apex bank showed reserves dropped from $49.18 billion at the start of April to around $48.36 billion by the end of the month before recovering steadily in May.



CBN Governor Olayemi Cardoso described...