According to data from the Central Bank of Nigeria (CBN), Nigeria’s foreign exchange reserves gained 8.8 per cent as of March 28, to $46.2 billion compared to same period in February 2018, The Nation reports.
The reserve is still far from the peak of $64 billion recorded in August 2008. Debt sales such as Eurobond offering by Federal Government helped Nigeria to accrue billions of dollars in foreign reserves, Reuters reports. The government raised $2.5 billion in Eurobonds in February and it is hoping to raise more. The apex bank will also hold its statutory Monetary Policy Committee (MPC) meeting, today, April 3 and tomorrow April 4, 2018, the first meeting of such since January this year.
