• Nigeria’s external reserves drop to $24bn

    Nigeria’s external reserves drop to $24bn

    According to the latest data posted on the Central Bank of Nigeria’s website, the country’s external reserves have depleted further to a record-low of $24.8bn.

    The foreign exchange reserves fell by $600m in two weeks before shedding $1bn in four weeks, the CBN statistics showed.

    Specifically, the reserves fell from $25.8bn on August 16 to $24.8bn on September 16. It decreased by $600m from $25.4bn recorded on August 31 to $24.8bn on September 16, the current CBN data revealed.

    The spate of decline […]