Daily Trust (Abuja)

29 January 2013

Nigeria: External Reserves Hit 45 Billion Dollars - CBN

The Central Bank of Nigeria (CBN) said yesterday that the nation's foreign external reserve stood at 45.43 billion dollars as of Jan. 23.

The bank disclosed this in a data provided on its website.

According to the apex bank, the figure represented an increase of 2.87 per cent over the preceeding figure of 45.35 billion dollars on Jan. 22.

The bank said external reserves had grown by 34.76 per cent in 2012 to over 44 billion dollars.

NAN also reports that external reserves continued its upward trend in 2013 as oil prices rise at the international market.

The CBN said external reserves could not meet up with the 50 billion dollar target set by the Federal Government by the end of 2012.

NAN

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