Economic News Update

External Reserves Down as CBN Settles Matured Obligations

 

Nigeria’s external reserves diminished to $25.860 billion as at August 12, 2016, following the settlement of matured obligation by the Central Bank of Nigeria (CBN). The latest external reserves position revealed by the CBN showed that the reserves derived mostly from the proceeds of crude oil sales fell by 1.9 per cent or N514 million in the last one month, compared with the $26.374 billion it was as at July 12, 2016.

 

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Economic News Update

External Reserves Down as CBN Settles Matured Obligations

 

Nigeria’s external reserves diminished to $25.860 billion as at August 12, 2016, following the settlement of matured obligation by the Central Bank of Nigeria (CBN). The latest external reserves position revealed by the CBN showed that the reserves derived mostly from the proceeds of crude oil sales fell by 1.9 per cent or N514 million in the last one month, compared with the $26.374 billion it was as at July 12, 2016.

 

Read More

Comment here