Nigeria: External Reserves Rise to U.S.$43 Billion

10 December 2018

The Central Bank of Nigeria (CBN), at the weekend, said Nigeria's external reserves have recovered significantly from $23 billion in October 2016 to over $43 billion as of December 3, 2018.

Besides, the apex bank unveiled plans to float a national microfinance bank in January 2019, with a N5billion take off capital, as part of efforts to deepen financial inclusion and enabling access to finance for Small and Medium Enterprises (SMEs) in rural communities.Governor of CBN, Godwin Emefiele, made the disclosure at the opening ceremony of the 10th yearly Bankers' Committee Retreat organised in collaboration with the apex bank in Lagos.

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