The bulk of the money used to fund Nigeria's foreign reserves comes from the export of gas and oil to other nations
Fitch Ratings has projected that Nigeria's foreign reserves would increase to $43 billion in 2022, up from $40.5 billion at the end of 2021.
Naira it dropped against the dollar today it was selling at N456 to S1 as individuals rush in to meet their fx payment obligations
Nigeria's external reserves have rallied and hit $45bn mark in May 2019, which represents 8months high. This is revealed in data obtained on the Central Bank of Nigeria (CBN) official webpage.
The reserves, which stood at $47.79 billion as at July 5, dropped to $45.23 billion as at September 13.
Nigeria's external reserve for the month of May 2018 was $47.61 billion
The Central Bank of Nigeria (CBN) recently released annual activity report for 2017. The report shows a total...
