...As data show CBN’s reduced intervention in FX market A sharp decline in Nigeria’s external reserves to a six-month low has dominated financial headlines in recent days, stoking fears of renewed instability in the naira and a potential pullback by investors. Yet, a closer examination of data and policy direction suggests that these concerns may be misplaced. The Central Bank Governor Olayemi Cardoso had forewarned investors about the expected dip in reserves during a meeting last year, citing planned foreign