Foreign Reserves

Nigeria Spends $3bn Monthly On Imports – CBN

Top 6 African Countries With Highest Foreign Reserves In 2024

Foreign reserves also known as forex or FX reserves are assets of a country held in form of foreign currencies, bonds, treasury bills and other government securities.

Victor Ezeja

6 months ago

Business

CBN Reveals JP Morgan’s Intention After Report On Nigeria’s Foreign Reserves

The Central Bank of Nigeria (CBN) Director of Monetary Policy Department, Hassan Mahmud, said the report by JP Morgan on Nigeria’s foreign reserves is an attempt to mislead the public. Mahmud stated

Fakoyejo Olalekan

1 year ago

Business

Nigeria’s Foreign Reserves Drop 73.5%, Weakens CBN’s Effort To Defend Naira

Nigeria’s foreign reserves stood at $3.7 billion as of the end of 2022, JP Morgan, a US-based financial firm, has revealed. In a recently released report by JP Morgan, titled; ‘Nigeria: Reform

Fakoyejo Olalekan

1 year ago

CBN Releases Another Around Of $10,000 FX To Each BDC, Mandates Them To Sell At N1,117/$1

Business

Senate Directs CBN To Give Foreign Airlines 2% Of Foreign Reserves

The Senate has directed the Central Bank of Nigeria (CBN) to increase the foreign exchange allocation to foreign airlines operating in Nigeria. This was made known on Wednesday after a motion titled; “Current

Fakoyejo Olalekan

2 years ago

Business·Currency

Dollar Rate Increases After $1.58 billion Drop In Foreign Reserves

At the end of trading in the foreign exchange (forex) official market on Wednesday, 3 May, the Naira slumped to the Dollar, as the forex rate closed at ₦463/$1. The Naira failed

Fakoyejo Olalekan

2 years ago

Naira Strengthens To N1,576 As Dollar Supply Rises

Business

Naira Gains, Drop In Foreign Reserves To Fuel Dollar Rate

The Naira to Dollar rate in the official market dropped by 0.04 per cent on Tuesday, 25 April 2023, as traders reduced their asking price by N0.23 kobo. According to data obtained

Fakoyejo Olalekan

2 years ago

Naira Appreciates To N869/$1 As Experts Debate Stability

Business·Insights

Nigeria’s Foreign Reserves Fall By $1.58 billion, To Affect International Investments, Dollar Rate

Nigeria’s foreign reserves dropped by 4.27 per cent in the first quarter of 2023 as foreign capital importation into the country nosedive, Prime Business Africa learnt. This represents a $1.58 billion depletion

Fakoyejo Olalekan

2 years ago

Business·Currency

Dollar Rate: Gap Between Official, Black Markets Rises To 61.3%

The dollar rate rose in the Bureau De Change window of the black market on Tuesday, 24 January 2023, as the naira weakened by -1.07 per cent. It was learnt that the

Fakoyejo Olalekan

2 years ago

Business

Nigeria’s Foreign Reserves Drops To $37.09 billion, CBN’s MPC Member Makes Projection

Within 12 months, Nigeria’s foreign reserves fell by $3.43 billion in 2022. However, it increased towards the end of the same year, reflecting the projection made by a member of the Central

Fakoyejo Olalekan

2 years ago

CBN Places Service Restriction On PoS Agents Across Nigeria

Business·Currency

Govt Must Tackle Oil Theft To Stabilise Forex Rate, Reserves – Emefiele Reveals

For Nigeria’s foreign reserves to rise and stabilise forex rate, the Federal Government must conclusively address the persistent challenge of oil theft, Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele,

Fakoyejo Olalekan

2 years ago

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Top 6 African Countries With Highest Foreign Reserves In 2024

CBN Reveals JP Morgan’s Intention After Report On Nigeria’s Foreign Reserves

Nigeria’s Foreign Reserves Drop 73.5%, Weakens CBN’s Effort To Defend Naira

Senate Directs CBN To Give Foreign Airlines 2% Of Foreign Reserves

Dollar Rate Increases After $1.58 billion Drop In Foreign Reserves

Naira Gains, Drop In Foreign Reserves To Fuel Dollar Rate

Nigeria’s Foreign Reserves Fall By $1.58 billion, To Affect International Investments, Dollar Rate

Dollar Rate: Gap Between Official, Black Markets Rises To 61.3%

Nigeria’s Foreign Reserves Drops To $37.09 billion, CBN’s MPC Member Makes Projection

Govt Must Tackle Oil Theft To Stabilise Forex Rate, Reserves – Emefiele Reveals

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