Nigeria’s external reserves have been depleted by $1bn in the last five weeks, Central Bank of Nigeria latest statistics have rebealed. According to the apex bank, its daily intervention at the interbank/official foreign exchange market in recent weeks, has been responsible for the development, as chronic dollar shortage continues to weigh on the economy. It […]
Read More
The nation’s external reserves fell marginally to $26.20bn on July 28, down from $26.32 on July 22, data from the Central Bank of Nigeria’s website showed on Monday. Month-on-month, the reserves fell by 0.4 per cent from the $26.34bn recorded on June 29, the report indicated. The foreign exchange reserves stood at $26.42bn on May […]
Read More
[su_dropcap]N[/su_dropcap]IGERIAN external reserves reduced by $6.7bn within a period of 21 months. This disclosure was contained in a paper presented to the just-concluded two-day retreat of the National Economic Council by the Minister of Budget and National Planning, Senator Udo Udoma. Our correspondent on Wednesday sighted a copy of the paper entitled: ‘Strategic Implementation Plan for the […]
Read More
THE nation’s external reserves fell to $28.1bn on January 28, the lowest level since 2005, data from the Central Bank of Nigeria showed on Friday. The foreign exchange reserves had stood at $29.13bn a month ago, the data showed. On December 31, 2015, the reserves closed at $29.070bn, reflecting a decline of 15.79 per cent […]
Read More
The nation’s foreign reserves have fallen by $112m in five days to $28.960bn; the latest figures obtained from the Central Bank of Nigeria have shown. The loss, recorded between December 31 and January 6, was the biggest in Nigeria’s reserves since the CBN implemented the use of Bank Verification Number in the forex trading. In […]
Read More
