Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), told the Senate committee on banking, insurance and other financial institutions on Thursday that the country’s foreign reserves have risen to $46.7 billion. Addressing lawmakers, Cardoso said the current reserves level is the highest recorded in almost seven years and now offers roughly 10.3 months […]
By Philip Clement As the legal battle to salvage Nigeria’s assets continue, a commercial court in London has ordered the release of $200 million to the Nigerian Government as a deposit in the case against Process & Industrial Development (P&ID). Godwin Emefiele, Governor of Central Bank of Nigeria (CBN) who confirmed the ruling stated that […]
…Currency in circulation drops to N1.96trn The Nigerian economy has continued to improve, while further efforts to address remaining gaps by both the monetary and fiscal authorities have been encouraged by local and international financial stakeholders, even as the nation’s foreign external reserves appreciated to $47.804billion as at Monday, May, 2018. Also, latest statistics from […]
.Records $6.1bn in January, highest in 10 months As the nation’s foreign reserves continues to grow with improved confidence in the Nigerian foreign exchange market and its management, the Nigerian Autonomous Foreign Exchange (NAFEX) window, has contributed to this development with not less than $31.66 billion in the last 10 months of its creation, checks […]
All eyes are on the Central Bank of Nigeria (CBN) for the release of the latest foreign exchange reserve figures. The apex bank is yet to update the most recent figures on its website for over two weeks, the last being August 18 2017. The external reserves data is updated nearly every day. The most […]