Moody’s Upgrades Nigeria’s Rating to B3, Cites Improved Reserves   Moody’s has upgraded Nigeria’s rating by a notch to ‘B3’ from ‘Caa1,’ citing significant improvements in the country’s external and fiscal positions. The credit ratings agency revised Nigeria’s outlook to ‘stable’ from “positive’ as it expects recent...

External Reserves Record $424.68 million Increase Nigeria’s external reserves recorded an increase of $424.68 million between August 30 and September 10, highlighting an improved financial outlook for the country. Data sourced from a report by the Central Bank of Nigeria (CBN) and analysed on Thursday showed...

The Central Bank of Nigeria (CBN) has released data stating that Nigeria’s external reserves have declined by 0.68 percent to $36.620 billion as of August 12, 2024, down from $36.872 billion on August 7, 2024. 

External Reserves Decline by $520m in Five Weeks – CBN   The country’s external reserves fell by $520.22 in five weeks, figures obtained from the Central Bank of Nigeria (CBN) revealed. According to CBN’s data on movement in reserves, the figures which stood at $33.396bn as of...

External Reserves Decline by $1.65bn in Six Months   Nigeria’s foreign exchange reserves have fallen by $1.6bn to $32.97bn since the Central Bank of Nigeria (CBN) tried to unify the country’s foreign exchange rates. On June 14, the apex bank asked Deposit Money Banks to remove the...

External Reserves Drop by $841m in Three Months   Nigeria’s external reserves fell by $841.75m between July and September, figures obtained from the Central Bank of Nigeria (CBN) revealed. The CBN revealed in its report on the movement of external reserves that the reserves, which stood at...