Business Top Stories

External reserves hit $33.57bn as Naira stables at N524/$

Ihesiulo Grace 30 August 2021 0

MOTOLANI OSENI Following an increase in foreign exchange inflow from crude oil, among other sources, the Nigerian external reserves are now stable at $33.57billion as of Thursday 26, August 2021. This is even as the naira depreciated by 0.1 per cent to N412.00 against the dollar and 0.8per cent

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External reserves drop to $34.82bn amid sluggish economic recovery

Ihesiulo Grace 5 April 2021 0

By Motolani Oseni The country’s external reserves monitored by the Central Bank of Nigeria (CBN) dropped by $177 million or 0.51 per cent in March to $34.82 billion from $34.99 billion in February, as it faces slower economic recovery. This is even as the World Bank has said Nigeria face slower economic recovery, while compared […]

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External reserves gain $1.78bn to stable at $35.77bn

Ihesiulo Grace 25 May 2020 0

…As Naira improves marginally against dollar at I&E forex window Motolani Oseni The nation’s external reserves gained total sum of $1.78 billion in 14 days to close last Thursday at $35.77 billion from $33.99 billion it stood at the beginning of May, data obtained from the official website of the Central Bank of Nigeria (CBN) […]

Business News

External reserves shed $539.3m in January

Ihesiulo Grace 3 February 2020 0

…CBN will be able to sustain its Naira defence through H1-2020 – Analysts Amidst the Central Bank of Nigeria (CBN) continuous interventions in the foreign exchange market, so as to strengthen the naira against other foreign currencies, the external reserves has reduced by $539.3 million in January. The reserves, which is monitored by the apex […]

Business

External reserves dip to $40.3bn, lowest in 21 months

Ihesiulo Grace 23 October 2019 0

The nation’s foreign reserves, which is monitored by the Central Bank of Nigeria (CBN) stood at $40.3bn as at October 18, 2019, lowest figure in the last 21  months. Latest figure obtained from the apex bank showed that the external reserves declined from $45 billion in July to $40.3 billion in October 18 2019, representing […]

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Why Nigeria’s external reserves stand at $41.39bn – MPC member

Ihesiulo Grace 14 October 2019 0

…As weakening oil prices, others affect reserves A member of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has explained why the nation’s external reserves are on a downward trend. The MPC member, Mike Obadan, in his personal statement, explained that weakening in the global oil prices and intervention in the […]

Business News

Forex injections: External reserves shed over $2bn in one month

Ihesiulo Grace 5 November 2018 0

…Gain $8.083bn in one year, CBN lifts FX market with $547.16m, CNY56.17m in one week …Investors FX segment records $1.128bn turnover in 5 days. The nation’s external reserves, which is managed by the Central Bank of Nigeria (CBN) has reduced by the total sum of $2.079 billion in just one month, checks by The Daily […]

Business Top Stories

How external reserves shed $372.3m in 7 days

Ihesiulo Grace 13 August 2018 0

*As foreign reserves steady at $46.7bn The nation’s external reserves in seven days of this month have depreciated by $372.3million to $46.7 billion from $47.07 billion it stood as at the beginning of August 2018, checks by The Daily Times has revealed. The latest figure obtained from the official website of the Central Bank of […]

Business News Top Stories

External reserves hit $47.8bn in June

Ihesiulo Grace 9 July 2018 0

The nation’s external reserves gained a total sum of $183 million to settle at $47.8 billion in the first half of 2018, latest data from the Central Bank of Nigeria (CBN) has shown. The foreign reserves monitored by the apex bank opened at $47.6 billion in June before closing at $47.8 billion, even as it […]

Sports Top Stories

Investors boost FX market with $14.4bn in 3 months

Ihesiulo Grace 2 April 2018 0

…As external reserves rise by $7.4bn in Q1 In the first three months of 2018, the Investors and Exporters (I&E) FX window boosted Nigeria’s Foreign exchange market (Forex) with total liquidity of $14.457 billion, even as Nigeria’s external reserves during the same period gained $7.44 billion, due to the steady increase in global oil prices […]

Business Money Top Stories

Again external reserves rise, hit $42.35bn

Ihesiulo Grace 5 March 2018 0

…as CBN committed to build reserves amid $18.58bn FX intervention The Central Bank of Nigeria (CBN), has expressed its determination to continue building the nation’s external reserves, amid continuous injections of US Dollar into the official foreign exchange market. The apex bank between April and end of February, 2018, spent $18.37 billion in its weekly […]

Business Money Top Stories

External reserves hit $40.63bn, gain $1.9bn in one month

Ihesiulo Grace 5 February 2018 0

… as CBN targets $60bn reserves in 2019 Despite continuous injections of US Dollar into the official foreign exchange market to support the local currency, the Nigerian external reserves during the first month in 2018, has recorded a whopping gain of $1.85 billion, while compared $40.625bn stood as at end of January 30, 2018 from […]

Business News Top Stories

External reserves hit $40.4bn amid forex interventions

Ihesiulo Grace 10 January 2018 0

.CBN lifts official FX market with $210m .Import bill declines to $1.5bn from $5bn Once again, the nation’s external reserves have risen, giving Nigerians and other close watchers of the nation’s economy something to cheer in the New Year. And, as projected by the Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, at the […]

Business Top Stories

External reserves gain $8bn in 10 months – CBN

Ihesiulo Grace 6 November 2017 0

*As NAFEX boost investors’ confidence with $8.96bn The nation’s external reserves have recorded a whopping $8billion in just 10 months of 2017, data obtained from the official website of the Central Bank of Nigeria (CBN) has showed. This is just as the Nigerian Autonomous Foreign Exchange (NAFEX) widow has boosted investors’ confidence with total traded […]

Business News Nigeria

Kerosene imports gulps N70.7bn in quarter Q4, 2016

Ihesiulo Grace 2 March 2017 0

The petroleum products imports statistics for the full year 2016, show that 18.8 billion litres of premium motor spirits (PMS), 4.89billion litres of automotive gas oil (AGO) and 713.79 million litres of household kerosene (HHK), valued at N2.01trillion, N505.8billion and N70.7billion respectively, were imported into the country (NBS Q4 Report 2016). The head of Banking

Business Money

External reserves rise $642m in 30 days

Ihesiulo Grace 29 November 2016 0

After weeks of consistent and gradual gains, the nation’s external reserves have increased by $642 million to hit a one-month high of $$24.57 billion, the latest data from the Central Bank of Nigeria (CBN) has shown.   The increase now brings the stock of reserves to $24.57 billion as at November 24, up from $23.93 […]