For the first time in several months, Nigeria’s foreign reserves not only recorded a growth, but sustained it for five days, according to data on the website of the Central Bank of Nigeria (CBN) on Thursday, November 29, 2018.
According to the CBN data, Nigeria’s reserves gained $386.53m, or 0.93% from $41.533bn on November 22, to $41.909bn on Tuesday, November 27.
Before then, the reserves level had depleted from its year-high of $47.846bn on May 11, 2018, representing a decline of $6.323bn or 13.22%.