$35bn external reserves sufficient to cover 7 months import — Emefiele

Nigeria’s forex inflow suffers 54% decline in January

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has said Nigeria’s external reserves, which is currently at $35 billion, is sufficient to cover seven months of imports of goods and services. This disclosure was made by Emefiele at the 55th Annual Bankers Dinner organized by the Chartered Institute of Bankers of Nigeria in Lagos on Friday. He pointed out that like other emerging market countries and countries that rely on earnings from oil exports, the decline in crude oil earnings, as well as the retreat by…

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