Tag: foreign reserve
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External reserves dropped by $640m in May – CBN
The country’s external reserves lost $640m in May, falling to $34.24bn on May 28 from $34.88bn as of April 28. Figures obtained from the Central Bank of Nigeria on Tuesday revealed that the reserves had been fluctuating in recent weeks. Speaking on the decline at the recent Monetary Policy Committee meeting, the CBN Governor, Godwin…
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Nigeria's foreign reserves drop to $43bn
The nation’s foreign exchange reserves have dropped to a seven-month low of $43bn. According to the latest data from the Central Bank of Nigeria(CBN) on Wednesday, the reserves dipped by $1.02bn in just 13 days. The external reserves, which stood at $44.30bn on September 28, fell from $44.02bn on October 2 to $43bn on October…
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Nigeria’s foreign reserves rise above $40Bn, highest since 2014
The Central Bank of Nigeria has revealed that Nigeria’s foreign reserves has hit a 3-year high after new Forex policies by the governor of Nigeria’s apex bank, Godwin Emefiele. According to a statement released by the Spokesman of the CBN, Isaac Okorafor, Nigeria’s foreign exchange was at $40.4Bn, the highest since October 2014, a figure…
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Disclose interests accruing from Nigeria’s foreign reserves, Dogara tells CBN
The Speaker of the House of Representatives, Mr Yakubu Dogara on Thursday challenged the apex bank (Central Bank of Nigeria) to disclose exact figures of the interests to Nigeria’s foreign reserve accounts. Speaking when a delegation from the Fiscal Responsibility Commission (FRC) visited him in Abuja, he said that agencies like the Commission should be…
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Nigeria’s Foreign reserve now $27.4bn
Nigeria’s foreign reserve has recorded 18.2 per cent accretion since its recent uptrend, standing at $27.4 billion with the latest figures from the Central Bank of Nigeria, CBN, for January 2017. The uptrend which began October 20, 2016 had persisted with minor pullbacks recorded on November 1, 2016 and December 14, 2016, reversing the over…