Nigeria’s reserves fall by $92m in 24 hours
It is a new year, but the same old story of falling reserves has refused to go away, with the Nigerian forex stock falling by $91,571,740 in 24 hours. The $91.6 million fall in Nigeria’s reserves is about the biggest decline since the Central Bank of Nigeria (CBN) implemented the use of bank verification number (BVN) in forex trading. According to the latest figures from the CBN, the reserves closed year 2015 at $29,069,779,152 and opened in 2016 at $28,978,207,412, losing approximately $92 million in one trading day. (more…)
by