BREAKING: Nigeria’s FX reserves exceed $35 billion, first time under Tinubu administration 

Nigeria’s external reserves have increased yet again, reaching $35.05 billion as of July 8, 2024.  

This is according to the central bank’s external reserve data, which was analyzed by Nairametrics.  

It was noted that the reserves have reached the highest level since May 30, 2023, when it was $35.09 billion, about 14 days before the introduction of the foreign exchange (FX) unification policy in June 2023.  

It appears that the recent FX policies of the Central Bank of Nigeria (CBN) alongside a string of financial commitments from the likes of Afrexim Bank and the World Bank through loans have bolstered the growth of the reserves. 

 

 

This is a developing story… 


Source: TheTimes.com.ng.