Nigeria’s external reserves falls to 18 months low
Nigeria’s gross external reserve has fallen to $35.74 billion dollars as of March 24, 2023. This is the lowest balance ...
Tag: Nigeria’s External Reserves
Central Bank of Nigeria to spend $1.7billion to clear FX backlogs by September – IMF
The World Bank has stated that Nigeria's external reserves are expected to decline as the CBN is expected to clear ...
CBN blames the decline in external reserve on the high cost of imported refined petroleum products
The Central Bank of Nigeria has attributed the drop in Nigeria's external reserves to the high cost of imported refined ...
Naira gains at NAFEX window as oil prices make rebound
Naira gained against the US dollar on Monday 19th April 2021 to close at N410.33/$1 as crude oil prices gained.
Naira crashes to N450 to $1 at parallel market amid fx scarcity
The volatility of Nigeria’s foreign exchange market seems to be heading towards the 2015 crisis era as the naira has ...
What constitutes Nigeria’s external reserves?
Anytime we hear about foreign reserves, we just learn about the movement in the reserves, whether upwards or downwards. But ...
UPDATE: Fitch downgrades Nigeria’s IDR to “B”, says CBN’s remedial policy not enough
A new report by Fitch has downgraded Nigeria's Long-Term Foreign-Currency Issuer Default Rating (IDR) to a 'B' rating.
External reserves decline by over 8%, despite lower FX demand
Nigeria’s external reserves have continued to decline unabated as it shed $3.33 billion within the last 3 months.
Oil price crash, Coronavirus: The trouble that lies ahead for Nigeria
In Nigeria, Coronavirus possesses a different kind of imminent threat which could cost economies even more.
Why you should be worried about the latest drop in external reserves
The CBN confirmed the external reserves stood at $39.8 billion, the first time it has dropped below $40 billion in ...
