Tag
CBN RESERVES
Fitch Ratings has warned that Nigerian banks face rising risks due to their heavy exposure to government debt...
Anytime we hear about foreign reserves, we just learn about the movement in the reserves, whether upwards or downwards. But there is more to the concept. Let's show you.
Latest data obtained from the CBN reveals that Nigeria paid a whopping sum of $4.45 billion as external debt service/payment in the first two months of 2020.
The Central Bank of Nigeria sold a whopping $36.6 billion in forex in 2018 according to a report released during the week on its website. This compares to $15.8 billion sold in 2017, a whopping 130% rise.