Foreign Reserves Archives

Nigeria’s Foreign Reserves Fall By $2.2bn In Oct — Biggest Monthly Drop Since 2015

November 1, 2018 0

Defending the naira has become more expensive as Nigeria’s foreign reserves declined by $2.2 billion in October 2018 alone — the largest monthly drop since 2015. Data from the Central Bank of Nigeria (CBN) has shown that the reserves shed $2,243,157,059 in October, moving from $44,305,099,104 on the last working day of September to $42,061,942,045 as at October 30, 2018. The country’s …

Foreign Reserves Add $1bn In Less Than A Month

April 9, 2018 0

Nigeria’s 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, Edward Adamu, newly appointed deputy governor, corporate services, said the apex bank hopes to meet the $50 …