{"id":22826,"date":"2018-04-09T16:45:59","date_gmt":"2018-04-09T15:45:59","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=22826"},"modified":"2018-04-09T16:45:59","modified_gmt":"2018-04-09T15:45:59","slug":"foreign-reserves-add-1bn-less-month","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/foreign-reserves-add-1bn-less-month\/","title":{"rendered":"Foreign Reserves Add $1bn In Less Than A Month"},"content":{"rendered":"

Nigeria\u2019s foreign exchange reserves have added $1 billion from the $46.2 billion recorded in March, according to figures made available by the Central Bank of Nigeria (CBN).<\/strong><\/p>\n

Speaking at the opening ceremony of the 25th seminar for business editors and financial correspondents in Uyo on Monday,\u00a0Edward Adamu,\u00a0newly appointed deputy governor, corporate\u00a0services, said the apex bank hopes to meet the $50 billion target before the end of the year.<\/p>\n

Adamu represented Godwin Emefiele, CBN governor, at the event.<\/p>\n

In March, Isaac Okorafor, acting director, CBN corporate communications, partly attributed the growth to the bank\u2019s decision to restrict foreign exchange\u00a0for the importation of 41 items.<\/p>

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Other factors which, according to him, contributed to the growth are\u00a0inflow from oil and non-oil exports, and huge inflows through the investors and exporters window of the foreign exchange market.<\/p>\n

\u201cThe bank\u2019s interventions in the foreign exchange window had also helped to moderate the pressure on the forex reserves by sustaining liquidity in the market and boosting production and trade,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Nigeria\u2019s foreign exchange reserves have added $1 billion from the $46.2 billion recorded in March, according to figures made available by the Central Bank of Nigeria (CBN). Speaking at the opening ceremony of the 25th seminar for business editors and financial correspondents in Uyo on Monday,\u00a0Edward Adamu,\u00a0newly appointed deputy governor, corporate\u00a0services, said the apex bank …<\/p>\n","protected":false},"author":6,"featured_media":22827,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[3900],"coauthors":[2391],"class_list":["post-22826","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-foreign-reserves"],"yoast_head":"\nForeign Reserves Add $1bn In Less Than A Month - National Wire<\/title>\n<meta name=\"description\" content=\"Nigeria\u2019s foreign exchange reserves have added $1 billion from the $46.2 billion recorded in March, according to figures made available by the Central Bank of Nigeria (CBN).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/foreign-reserves-add-1bn-less-month\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foreign Reserves Add $1bn In Less Than A Month - 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