Foreign Reserves Records Slight Gain As Naira Weaken To N430/$ On I&E Window   The value of the naira weakened to N430 to the dollar at the Investors’ and Exporters’ window at the end of business last week even as the Nigeria’s external reserves gained slight...

Nigeria’s Forex Reserves To fall, CBN Plans $1.7bn Arrears Payment   Nigeria’s forex exchange reserve will fall in 2022 as the Central Bank of Nigeria (CBN) plans to clear about $1.7bn in FX backlog to foreigners and FX forward contracts, the World Bank has said. The global...

Nigeria’s Foreign Reserves Drop To $39.5bn   Nigeria’s foreign reserves stood at $38.483bn by May 31, 2022, declining by five per cent from $40.521bn reported by end of December 2021, according to the calculations of reserves movements on the Central Bank of Nigeria’s website. On the other...

Foreign Reserves Shed $975.7m Year-to-date   Nigeria’s foreign reserves continued its downward slope, a trend formed towards the end of last year after it failed to sustain a momentary recovery witnessed in October. The gross figure, which has remained a consistent gradual depletion in the past five...

Amid Currency Crisis, Reserves Gain $5bn In 2021   Amid currency crisis and fluctuation in oil prices, the country’s gross foreign reserves dipped by nearly $600 million in December alone. This raises fresh concern about the short to medium-term stability of the foreign exchange market. The figure...

Steady Rise In Oil Price Pushes Foreign Reserves To $39.5bn   Nigeria’s foreign reserves have climbed to $39.5 billion on the back of steady rise in crude oil prices and drawdown on international loans. The Brent crude, the global benchmark, was up by 85 cent to trade...