• Nigeria’s external reserve falls to $24.59bn

    Nigeria’s external reserve falls to $24.59bn

    Nigeria’s foreign exchange reserves fell to $24.59bn by September 28, down 3.37 per cent from the previous month, the latest Central Bank of Nigeria data showed on Friday, as the bank stepped up its intervention to prop up the ailing naira currency.

    The country’s reserves stood at $25.45bn last month, according to Reuters. The reserves had declined 19 per cent from a year ago.

    The CBN has been selling the dollar to support the currency, but the naira hit a fresh all-time […]