FX Reserve to increase to $35.01 billion by end of March - CBN official Muhammad Sani Abdullahi, the Deputy Governor responsible for Economic Policy at the Central Bank of Nigeria (CBN), has forecasted that Nigeria's external reserves will rise from approximately $34.98 billion to surpass...

FX Reserve to increase to $35.01 billion by end of March - CBN official Muhammad Sani Abdullahi, the Deputy Governor responsible for Economic Policy at the Central Bank of Nigeria (CBN), has forecasted that Nigeria's external reserves will rise from approximately $34.98 billion to surpass...

Oil Exploration Activities Decline, Threaten 40bn Reserves Target           Nigeria has recorded a significant 19.3 per cent decline in the level of oil exploration in the first 10 months of this year, a development which may be threatening the Federal Government’s plan to restore growth in...

Reps Probe CBN’s $7bn Reserve Disbursed To Banks   The House of Representatives has begun investigation into the alleged non-refund of $7bn withdrawn from Nigeria’s foreign reserves by the Central Bank of Nigeria in 2006 and disbursed to banks and assets managers. The House mandated the Committee...

As Reserves Near $48 Billion, CBN Auctions $559m In Three Days   A Combined two foreign exchange (forex) market interventions by the Central Bank of Nigeria (CBN), on Wednesday, at the weekend hit $559.34million, as the monetary policymaker sustained efforts to keep the market liquid and...

Nigeria's Oil Reserve Drops By 961 Million Barrels   Contrary to the Federal Government’s target of increasing crude oil reserves, the country recorded a decline of 961.47 million barrels in four years on the back of low investment in exploration by oil companies. The oil reserves fell...