Nigeria: Non-Oil Earnings Rise, Aggregate Forex Inflow Falls

FROM the Economic Report for May by the Central Bank of Nigeria (CBN), indications emerged that the non-oil sector recorded an increase in foreign exchange earnings for the country.

However, the report showed that aggregate foreign exchange flows through the economy, estimated at $11.71 billion, represented a decrease of 14 per cent and 11.7 per cent compared with the levels at the end of April and the corresponding period of 2013, respectively.

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