Business
Nigeria external reserve rises
Nigeria’s foreign exchange reserves as at end of January 2017 rose by 8.39 percent to $27.88 billion from a month ago, climbing to their highest level in 10 months, data on CBN website has shown.
Nigeria’s external reserves have been rising this year to gain 6.9 percent so far. The central bank did not provide any reason for the recent rise, which may be attributed to the recent rise in global oil prices. However, official reserves are down 1.27 percent from the same period a year ago, when they stood at $28.24 billion, the data showed.
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