Nigeria’s foreign reserve edge up to $30bn
Nigeria’s dollar reserves have increased by 15.02 percent since the start of the year, data showed, but were far off their peak of $64 billion hit in August 2008.
The level of reserve was $26.09billion at the beginning of January, meaning that the Central Bank had built it up with additional $4billion.
As at 9 March, Nigeria had $30.038 billion in reserve, compared to $29.668b at the beginning of the month.
At the beginning of February, CBN figures showed the level of reserve at $28,227,251,639.
The CBN has not officially explained the new figures, but increase in the flow of oil income may have added to the nation’s reserve liquidity.