Business

Nigeria: Foreign Reserves Now U.S.$47.62 Billion

Nigeria’s foreign exchange reserves rose 0.27 per cent from a month ago to $47.62 billion as of May 30, Central Bank data showed on Friday, according to a Reuters report.

Nigeria’s forex buffer stood at $30.36 billion, up 57 percent from a year ago, but is still far off a peak of $64 billion hit in August 2008

It would be recalled that the Central Bank of Nigeria (CBN), last march disclosed that Nigeria’s External Reserves is steadily growing and stood at $46 billion.

According to the apex bank, the reserves grew by about $3.2 billion between February and March 2018.

The reserves at the beginning of 2018 stood at $39.3 billion, then rose to $42.8 billion in February before hitting the new high of $46 billion.

The CBN attributed the continued accretion to the country’s reserves to the Bank’s effort at vigorously discouraging unnecessary importation and reducing the nation’s import bill, inflow from oil and non-oil exports.

Police Recruitment: Osun, Borno Top List Of Shortlisted Applicants

The Police Service Commission (PSC), has released the names of candidates shortlisted for medicals as part of the screening process to recruit 6000 personnel into the Nigeria Police Force

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Categories: Business