The CBN revealed in its figures on movement on foreign reserves that the reserves which commenced January 3, 2023 at $37.07bn fell to $34.22bn as of the end of June 26, 2023.
He said, “Gross external reserves fell by 0.7 per cent to $36.13bn at end-February 2022 from $36.4bn at end-January 2022. This was driven by the rise in debt service payments and foreign exchange swap transactions.
“Both government expenditure and revenue declined. FGN Debt increased owing to new borrowings to finance the deficit in the 2022 budget and new loans by subnational governments.”
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2023 Poll: INEC, EU Observers Disagree Over Conduct Of Presidential ElectionThe European Union Election Observer Mission to the 2023 general election in Nigeria (EU EOM) declared yesterday that the February 25 presidential election
Read more »
'Democracy not 100m dash' -- INEC reacts to EU mission report on 2023 polls | TheCableThe Independent National Electoral Commission (INEC) says Nigeria is on course to achieving optimal democracy.
Read more »
2023 AFCONQ: Peseiro Should Use Mainly Home-based Players Against São Tomé – OkpalaWorld record holder Tobi Amusan is set to go full throttle at two major events in Ostrava, Czech Republic and Lausanne, Switzerland, in the coming days.
Read more »
At Least 74 Nigerians Killed By Hoodlums During 2023 General Elections – European Union Report | Sahara ReportersThe European Union (EU) in its report has claimed that at least 74 fatalities were recorded in 101 violent incidents that occurred during the 2023 electioneering period in Nigeria. The EU mentioned this in its final report titled “Election Observation Mission NIGERIA 2023” and obtained by SaharaReporters on Tuesday. The union claimed that all the recorded violent incidents occurred during the campaigning period, adding that killings became more increased when the election drew nearer.
Read more »
Ballon d’Or 2023: Inter’s Zanetti name player that should win awardInter vice-president, Javier Zanetti has named Lionel Messi as the player that deserves to win the Ballon d'Or this year. Zanetti said Messi deserved to
Read more »
Why I invoked 'Emilokan spirit' ahead 2023 elections - TinubuMr Tinubu says he was confident of winning the 2023 presidential election despite the obstacles put on his path.
Read more »