Nigeria's Foreign Assets' Value Dips By N459 Billion in Three Months

26 July 2012

The value of Nigeria's assets abroad dipped by N459.2 billion (US$2.87 billion) in the first quarter of 2012, according to a report by the Central Bank of Nigeria.

The CBN also disclosed that Foreign Direct Investment, FDI, inflow into Nigeria dropped by 19.25 per cent to N275.2 billion (US$1.72 billion) in first quarter 2012 from N340.8 billion (US$2.13 billion) recorded in the fourth quarter of 2011, blaming the decline on the activities of terror group in the country.

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