CBN Governor, Mr. Godwin Emefiele
Nigeria’s external reserves return to growth path, gains $679.12m in June
Nigeria’s external reserves returned to a growth path after gaining $679.12m in June.
Figures obtained from the Central Bank of Nigeria (CBN) revealed that the reserves, which stood at $38.48bn as of June 2, 2022, rose to $39.16bn as of the end of June 30, 2022.
The reserves had earlier hit a seven-month low after falling to $38.4bn as of the end of May.
Analysts at Cordros Research stated that Nigeria’s FX reserves maintained accretion for the fifth consecutive week as the gross reserves position grew.
Governor of the CBN, Mr. Godwin Emefiele, had earlier explained that it launched the ‘RT200 FX Programme’ in order to boost foreign supply in the country through the non-oil sector in the next three to five years.
