NIGERIA’S FOREIGN RESERVES SHEDS 1BILLION DOLLARS IN ONE MONTHS

Nigeria’s foreign reserves depleted by $1 billion in August 2019. This is reflected in the data published on the website of the Central Bank of Nigeria (CBN). According to the data obtained from the apex bank’s website, Nigeria’s foreign reserves stood at $45 billion on the 25th of July 2019, while the figure has recorded a decrease and stood at $44 billion as of 23rd August 2019. A closer look: Nigeria’s foreign reserves crossed the $45 billion thresholds in May 2019. Hence, the reserves had built significantly until the recent free fall. •…

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