The Central Bank of Nigeria (CBN) has confirmed that the country’s external reserves of $42 billion are sufficient to finance imports of goods and services for more than nine months. CBN Governor, Mr. Olayemi Cardoso, made this announcement while presenting…
By Seun Ibiyemi Nigeria’s external reserves, also known as foreign currency reserves, jumped by $490 million in one week following the successful issuance of domestic dollar bonds by the Debt Management Office (DMO). Data from the Central Bank of Nigeria…
Nigeria’s external reserves have recorded a marginal decline of 1.16 percent ($430 million) in the last two weeks since the Central Bank of Nigeria (CBN) reintroduced the retail Dutch auction in the foreign exchange (FX) market. Data from the CBN…
By Esther Agbo Nigeria’s foreign exchange reserves have experienced a notable decrease, shedding $342.97 million in just nine days, according to the latest data released by the Central Bank of Nigeria (CBN) recently. The reserves now stand at $36.53 billion,…
By Matthew Denis Recent data has revealed a surge in Nigeria’s foreign exchange reserves. According to the data seen by NewsDirect, the FX reserves have grown to $36.5 billion, Data from FMDQ platform showed that the naira closed at N1,611.40…
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said the country’s external reserve increased to $36.89 billion as of July 16 2024 amid the banks’ policy interventions. Cardoso disclosed this on Friday in Abuja during an engagement…
By Sodiq Adelakun In a positive economic development, Nigeria has witnessed a notable increase in its external reserves, with a 2.83 percent growth since the start of the year. The Central Bank of Nigeria (CBN) reported that the country’s foreign…
By Sodiq Adelakun Nigeria’s foreign exchange reserves have fallen to a six-year low of $32.87 billion at the end of December 2023, according to data from the Central Bank of Nigeria (CBN). This is the lowest level since September 2017…
Nigeria’s external reserves have witnessed a significant decline, falling by 11.55 percent, which amounts to a loss of $4.28 billion since the start of the year. The Central Bank of Nigeria (CBN) has reported that the reserves stood at $33.78…
Nigeria’s gross official reserves fell by $392 million to $33.0 billion in November 2023. This is according to recent data on external essences issued by the Central Bank of Nigeria (CBN) on its website. The decline implies that the gross…
