Nigeria’s external reserves has risen to a three-year high of $33.112 billion as of October 12, according to figure obtained from the Central Bank of Nigeria’s (CBN) website.

The sustained accretion in the reserves is driven majorly by increased foreign currency inflows into the Nigerian fixed income securities market, the stability in crude oil prices as well as increased crude oil production.

CBN Governor, Mr. Godwin Emefiele at the weekend expressed optimism that fundamentals of the Nigerian economy would continue its positive momentum.
“For me, what is gratifying is that in the midst of global recovery, Nigeria itself has shown signs of recovery, especially the turnaround in the Gross Domestic Product (GDP) position, from a negative position to about 0.55 per cent. That for me shows that we are in the right position,” Emefiele had said while briefing journalists in Washington DC.

He also revealed that some foreign direct investors were interested in investing in the country’s infrastructure as well as agriculture sectors.
Responding to a question on his projection for the naira, Emefiele pointed out that as accretion to the external reserves continues and the economic fundamentals get stronger, the nation’s currency would definitely strengthen.

He said the central bank would continue to monitor the banks to ensure that are no threats that would alter the strategic health of the industry, “to the point where we begin to think about some threats that will distabilise the system and therefore create problems for the economy.”
He urged Nigerians living abroad to continue to remit foreign currencies to the country, just as he revealed plans to develop a policy that would link the country’s credit bureaux system to foreign borrowing.

“We are working on how to actually link our credit bureau arrangement with foreign borrowing arrangement, so that once there is a linkage between Nigeria and the foreign credit system, it is easy for them to even borrow from Nigeria and also get some form of attachment to the credit that they have abroad either in the United States or the United Kingdom. With that, it should be easy for them to access credit, then begin to build their businesses so that they can retire into Nigeria rather than retire abroad,” Emefiele said.

http://www.thisdaylive.com/index.php/2017/10/18/external-reserves-hit-3-year-high-at-33-112-billion/

This is the same Foreign reserve ex president Jonathan met at 56Billion Dollars....but with of help Deziani, Dasuki, FFK, Wike and other corrupt economic terrorists, they shared more than Half of the common Patrimony...only handed less than 22Billion Dollars To Buhari.

When the missing 25b dollars is factored in. Plus some other missing funds here and there, the reserves ought to be approaching 100b dollars. But no. Too many crooks dipping in the cookie jar

[s]

aolawale025:
When the missing 25b dollars is factored in. Plus some other missing funds here and there, the reserves ought to be approaching 100b dollars. But no. Too many crooks dipping in the cookie jar

[/s]

ignorant ipob yoot!

Clerverly:
[s][/s]

ignorant ipob yoot!

Stop spamming my mentions!

I know you'd not see the children of perdition from the land the sun will never rise here. Their heart is filled with evil for Nigeria, yet make all sort of outrageous demands on the country. To the morons that will be here to make noise about why you are not allowed to go please direct the question to you demented ancestor who excluded the succession clause.

Jonathan really tried to manage our reserves

If you now add Baru's $25bln ..then we reach $58bln technically

hahaha..nigeria and their fititous figures . i can atleast remember reading some thing like this news some years back..now we are 2017, nothing has been done..instead things are getting worse each day..
lesson:neva trust all this figures..it is just to raise our hope that the government is working..but at the end of their tenures, u will see that they are corrupt..

but to tell u the truth, this present government is the worst in nigerians history...no other government has been terrible than this.in all human and economic indexes, they are coming out worst than even the devil himself..infat the devil go dey surprised at whats happening in his other hell(nigeria).i rest my case

Somebody weh start shouting "Baba is working" here now . . .

Lemme come and be strolling sef

Shawnnn01:
I know you'd not see the children of perdition from the land the sun will never rise here. Their heart is filled with evil for Nigeria, yet make all sort of outrageous demands on the country. To the morons that will be here to make noise about why you are not allowed to go please direct the question to you demented ancestor who excluded the succession clause.

its not hard to detect an idiotic slowpoke..
that one that fought for seccession to be included in the constitution later turn around to kill millions of people so that cant seccede..talk about hypocrisy, coward and suffersticated people..nonsense

That is my President

good

unohbethel:
its not hard to detect an idiotic slowpoke..
that one that fought for seccession to be included in the constitution later turn around to kill millions of people so that cant seccede..talk about hypocrisy, coward and suffersticated people..nonsense

It shows you n your father can not switch on n off demands at will without consideration for others. In other word you, your father n fore fathers are the detected slowpoke and idiots. You are just mad because other Nigerians refuse to be herd to the slaughter lab because of your unstable senseless stand about everything politics.

Good

unohbethel:
its not hard to detect an idiotic slowpoke..
that one that fought for seccession to be included in the constitution later turn around to kill millions of people so that cant seccede..talk about hypocrisy, coward and suffersticated people..nonsense

Na who say make you no surrender when a blockade was successfully effected?

With all the food and famine propaganda from Biafra, you surrendered last last in 1970 like a fool who couldn't appreciate that the defeat had already occurred since 1968.

Every law is good for Nigeria as long as the Igbos are in the driver's seat, buy once out of power, they begin to fight the very laws they had recently championed.

lalasticlala this deserves front page!

fictitious futures being branded upandown


anyway, when there is no any good news coming from the present administration


how does this nonsense impacts the life of an average man on the street positively


shall we go and tell the market women that our external reserve has risen up therefore buhari is doing well
.

issokay

telling us shiiiit

Then why do we want to borrow?

Congrats

make them let am affect standard of living in the country.

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Nigerians get used to bad news and suffering after a while. It' seems nobody remembers the dollar naira exchange rate anymore. We have moved on to other things.
We have come to accept the hard situations as the normal standard such that anyone can promise 250 naira to a dollar in 2019 and Nigerians will quickly rush to vote. Buhari well done o

Economist should explain what does it mean? Kínní ìtumò ẹ? Kínní àǹfààní ni ẹ? What are the benefits?

Reserve goes up by $7B but debt increases by a higher value. What's the big deal ?

Unteee e translate to food on awa tabili, na jus figures tho....

Campaigning for 2019 already

Mark Zuckerberg is richer than Nigeria and still maintain a low profile but Nigeria as a country will keep bragging as giant of Africa with nothing to show since independent. SHAME...SHAME...SHAME