Saturday, 16 October 2021

B Business

central bank of Nigeria: Nigeria’s external reserves hit $40.4bn

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As projected by the Governor, Central Bank of Nigeria, Mr. Godwin Emefiele at the Annual Bankers’ Dinner of the Chartered Institute of Bankers in Lagos last November, the nation’s External Reserves have hit a new level of $40.4 Billion.

 

This is even as the Bank injected a total of $210 million into the interbank Foreign Exchange Market in the first round of trading for the year on Monday. 

Figures obtained from the CBN indicate that the External Reserves reached the $40.4 Billion mark on Friday indicating an increase of about one billion dollars between December 2017 and January 2018. 

Confirming the figure, the Acting Director in charge of Corporate Communications at the CBN, Isaac Okorafor attributed the accretion to the country’s reserves to the Bank’s strategy to effectively manage forex demand by various sectors of the economy.

 

 

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