Monday, 30 October 2017

Nigeria’s external reserves hits $34bn – CBN.

The Deputy Governor of Central Bank of Nigeria (CBN) in charge of Financial System Stability, Joseph Nnanna, has said Nigeria’s external reserves have hit $34bn from $33.6bn attained on October 25.

The reserves have been appreciating very fast after hitting $32bn on September 18.

Nnanna, who disclosed the latest figure in Lagos during the weekend while fielding questions from journalists at a forum organised by the Chartered Institute of Bankers of Nigeria, said the exchange rate stability achieved so far by the apex bank had come to stay.

He expressed confidence that the usual end-of-the-year rush would not push up the naira-dollar exchange rate contrary to some people’s expectations.

By Chijoke Jannah.

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