The Central Bank of Nigeria (CBN) has said the sustained stability in the foreign exchange market and the continued growth of the country's external reserves are clear indications that ongoing economic reforms are yielding positive results.

The apex bank stated that recent monetary and fiscal measures have strengthened confidence in the foreign exchange market, leading to improved liquidity, a more stable exchange rate and increased investor interest. It noted that the steady rise in external reserves has further enhanced the nation's ability to meet international obligations.

According to the CBN, prudent monetary policies, improved foreign exchange management and stronger inflows have contributed significantly to the current market stability. The bank added that the reforms are creating a more predictable environment for businesses, investors and other stakeholders.

The apex bank reaffirmed its commitment to maintaining price stability, safeguarding the financial system and implementing policies that support sustainable economic growth. It also assured Nigerians that it would continue to monitor developments in the domestic and global economy to protect the gains already achieved.

The CBN expressed optimism that the country's economic outlook would continue to improve if ongoing reforms are sustained, urging stakeholders to support measures aimed at strengthening macroeconomic stability, boosting investor confidence.