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NIGERIA'S FOREIGN RESERVE
The exchange rate for import duties by the Nigeria Customs Service (NCS) continues to rise as it hits N1549 to the USD according to the latest check on the customs exchange rate portal. This represents an increase of N37 from the previous rate of N1512/$.
The Minister of Solid Minerals Development, Dele Alake, announced that Nigerian gold bars transaction has boosted the country’s foreign reserve assets by over $5 million.
In a concerning forecast by the International Monetary Fund (IMF), Nigeria's foreign reserve is expected to see a significant reduction, falling to $24 billion in the year 2024.
Nigeria’s foreign reserves closed out 2022 at $37.1 billion, losing $3.43 billion compared to the $40.52 billion at the beginning of the year.
Wednesday, 4th August 2021: The exchange rate between the naira and the US dollar closed at N411.50/$1 at the...
The much enjoyed foreign exchange stability, may remain for the foreseeable future as Nigeria’s foreign reserves have hit...
Despite the fact that Nigeria has been in recession since August last year due to lowered global prices,...