Thousands of Nigerians have reacted to reports that the country's foreign exchange reserves have surged to over $40 billion, marking their highest level in almost three years.

This was made known by Central Bank of Nigeria (CBN) governor Olayemi Cardoso, on Thursday, November 7, 2024.

An official statement released on the report read: “According to Governor Cardoso, the reforms had started to yield positive results, including marked improvements in the FX market and a stabilisation of foreign reserves, which have now surpassed the $ 40 billion mark, the highest in 33 months.

“While noting that inflation remained elevated, he said it was on a downward trend, signalling that the reforms were taking hold in restoring market equilibrium and fostering growth.”

Read some reactions below:

chi_bils: "Abeg how can we verify?"

Oshiole: "To these people It’s all about painting a good image, Mean while the common man can not farm bcos of bandits"

hn_mb07: "Shey na statistics we go chop. How market. Make una dey lie for una sef. Lie Muhammed part 2"

ostechnology313: "Plenty grammar, no effect on economy."