Nigeria’s external reserves hit 3-year high at $38.2bn
Adestokunbo Fakeye
London, Dec. 6, 2017 (AltAfrika)-Nigeria’s foreign reserves has reached $38.2 billion, the only time in nearly three years.That’s according to the nation’s apex bank, Central Bank of Nigeria, (CBN)
The CBN governor, Mr Godwin Emefiele, who made the disclosure at a public event in Agbara in Ogun State said
“We have seen reserves move up from the $23 billion I talked about in October 2016, but as I speak today, external reserves are $38.2 billion.The foreign reserves, which stood at $40bn in October 2014, went down to $23bn in January 2016, following a crash in commodity prices at the international market.
Emefiele said: “Today we are beginning to sing positive songs and our stories are looking good.
“In the last seven months, we have seen a $10bn inflow into the economy not only as foreign portfolio investment but also as foreign direct investments,” he stated.
