A convo between Bayo Onanuga, Special Adviser to President Tinubu and information platform, The Cable on the growth of Nigeria’s foreign exchange reserves.
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| Central Bank of Nigeria (CBN) |
The Cable tweeted: “Cardoso: Nigeria’s foreign reserves rose to $39bn in October.”
Onanuga quoted The Cable’s tweet and commented: “CBN governor Yemi Cardoso said the nation’s foreign exchange reserves have “grown significantly” with remittance flows currently representing 9.4 percent of total external reserves.
“The reserves rose by 12.74% to $39.12 billion as of October 11, 2024, from $34.70 billion at the end of June 2024,” he said.
The CBN governor said the foreign reserves are driven largely by foreign capital inflows, receipts from crude oil-related taxes and third-party.”
The Convo:
