Nigeria’s external reserves experienced an increase to $39.77 billion as of October 30, 2024.
This was contained in a Central Bank of Nigeria’s data on external reserve movement.
The data showed that the country’s reserve grew to $39.77 billion in October from $38.35 billion recorded on September 30, 2024.
CBN Supremo, Olayemi Cardoso, in his appearance at the National Assembly last month, credited improved diaspora remittance with the increase in the country’s external reserves.
“This is substantially higher than the prescribed international benchmark of 30 months, reflecting a robust buffer against external shocks,” he stated.
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