According to data received from the Central Bank of Nigeria, the nation’s foreign reserves decreased by $112.78 million in just two weeks to $35.42 billion.
According to information received on Monday from the CBN’s statistics on the movement of external reserves, the reserves declined from $36.99 billion at the end of January 1, 2023, to $36.67 billion on February 27, 2023, and to $35.53 billion at the end of March 30, 2023.
The Governor of the Central Bank of Nigeria (CBN) blamed the loss in external reserves on the decline in crude oil price during the most recent Monetary Policy Committee in Abuja in March.
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