News
External Reserves Hit $45bn, Says CBN
The Central Bank of Nigeria (CBN) said on Monday that the nation’s foreign external reserves stood at $45.43 billion as of January 23.
The bank disclosed this in a data provided on its website.
According to the apex bank, the figure represented an increase of 2.87 per cent over the preceeding figure of $45.35 billion on January 22.
The bank said external reserves had grown by 34.76 per cent in 2012 to over $44 billion.
Our correspondent also reports that external reserves continued its upward trend in 2013 as oil prices rise at the international market.
The CBN said external reserves could not meet up with the $50billion target set by the Federal Government by the end of 2012.