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Economy

Why Nigeria’s foreign reserves lost $2.2bn – CBN

The Central Bank of Nigeria has explained reasons why Nigeria’s foreign reserves lost $2.22 billion in a sustained demand pressure in the foreign exchange market.   In its Financial Stability Report, CBN showed that the reserves fell to $36.96 billion in the second week of December, from August closing figure of $39.18 billion.   According […]

US deficits projected $1trn higher over next decade
Economy

External reserves get $679.12m boost in one month

Figures obtained from the Central Bank of Nigeria have revealed that the country’s external reserves returned to a growth path after gaining $679.12m in June. According to The PUNCH, the figures showed that the reserves, which stood at $38.48bn as of June 2, 2022, rose to $39.16bn as of the end of June 30, 2022. […]