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Oil Price – Nigeria’s External Reserve Rise to $40.4 billion

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According to latest Central Bank of Nigeria (CBN) figures, the rising crude oil price in the international market has pushed Nigeria’s external reserve to $40.4 billion, Premium Times reports.

The CBN said Nigeria’s external reserve reached the new mark on January 5. This shows that about $1 billion was added to the account between December 2017 and January.

At the Annual Bankers’ Dinner of the Chartered Institute of Bankers (CIBN), in Lagos in November, the CBN Governor, Godwin Emefiele, had said the external reserve was growing significantly.

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