By Kayode Tokede The nation’s foreign reserves increased to $33.57billion as at last Thursday following increased foreign exchange inflow from crude oil, among others. The naira depreciated by 0.1 per cent to N412.00 against the dollar and 0.8per cent to…
A group of analysts at EFG Hermes have expressed that the country’s foreign reserve has been projected to surpass the $40 billion threshold by September 2021, following the $3.35 billion direct allocations approved by the International Monetary Fund (IMF). Nigeria…
By Kayode Tokede Nigeria’s foreign reserves fell by $2.27billion in seven months, from January 4 to July 29, as the figures continued to witness historic depletion. According to data sourced from the Central Bank of Nigeria (CBN), the gross reserves…
By Kayode Tokede The Central Bank of Nigeria (CBN) has disclosed that the foreign reserve dropped by $35.9million in one day from $35.22billion on Monday to $35.18billion on Tuesday. Our correspondent gathered that foreign reserves in April have been on…
The depletion of Nigeria’s Foreign Reserves remains one subject of prime significance with notation of strong links to the workings of the economy. The devaluation of the Naira before hard currencies with the attendant results of recession are unfortunate characters…
The Central Bank of Nigeria (CBN) has said the country’s foreign reserves dipped by $184.58 million in its week-on-week (w/w) performance to $34.92 billion as at March 3rd, 2021 as the apex bank maintained its interventions across the foreign exchange…
A financial expert, Mr Okechukwu Unegbu, has urged Nigerians in diaspora to make remittances to relatives in dollars and other foreign currencies to preserve Nigeria’s foreign reserves. Unegbu, a past president of Chattered Institute of Bankers of Nigeria (CIBN), gave…
