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Foreign Reserves Fall From $35.03 Billion To $34.74 Billion - Business - Nairaland

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Foreign Reserves Fall To $32.3bn from $35.9 bn In August / Nigeria’s Foreign Reserves Drop To $34.57bn / Nigerian Foreign Reserves Drops To $34 Billion (2) (3) (4)

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Foreign Reserves Fall From $35.03 Billion To $34.74 Billion by mukina2: 10:14am On Mar 01, 2012
Data released by the Central Bank of Nigeria (CBN) yesterday showed that Nigeria's foreign exchange reserves fell from $35.03 billion to $34.74 billion as of February 27, 2012.

The decline in the reserves has been attributed, by analyst, to withdrawals by the federal government to cover up for the revenue shortfall in January’s budgetary distributions to the three tiers of government.

Nigeria’s revenue from oil exports dropped in January due to production outages, leading to a withdrawal from the excess crude account to keep distributions steady when crude oil revenues fall.

In the corresponding period of last year, the country’s reserve was $33.24 billion.

http://dailytimes.com.ng/article/foreign-reserves-fall-3474#.T08yDHi2-Xo.twitter
Re: Foreign Reserves Fall From $35.03 Billion To $34.74 Billion by mkmyers45(m): 10:59am On Mar 01, 2012
And we are planning to borrow $3M from china when we have enough in our reserves? How are we still withdrawing to balance budget of last year?
Re: Foreign Reserves Fall From $35.03 Billion To $34.74 Billion by OnlyRebel: 11:40am On Mar 01, 2012
This madness can only happen under the wreckage of intellectualism afforded us by the Mr. SLS, the CBN dictator.
Re: Foreign Reserves Fall From $35.03 Billion To $34.74 Billion by stepo707: 11:41am On Mar 01, 2012
undecided undecided undecided
Re: Foreign Reserves Fall From $35.03 Billion To $34.74 Billion by ricki: 11:42am On Mar 01, 2012
Do you care explaining what "foreign exchange reserves" is or mean?

for a start I know it's foreign!
Re: Foreign Reserves Fall From $35.03 Billion To $34.74 Billion by OnlyRebel: 11:45am On Mar 01, 2012
^^ these are assets of the central bank of Nigeria held in different reserve currencies, majorly in US Dollars.
Re: Foreign Reserves Fall From $35.03 Billion To $34.74 Billion by BlackBaron: 11:58am On Mar 01, 2012
Broke country grin

Even Apple's got more money than that. embarassed
Re: Foreign Reserves Fall From $35.03 Billion To $34.74 Billion by ricki: 12:28pm On Mar 01, 2012
^^ these are assets of the central bank of Nigeria held in different reserve currencies, majorly in US Dollars.

so you meant rap'ing the land and people. Or simply put slavey in disguise ?


hmmmmmm, central bank limited, what does this company got to do with everyday people on the street?
Re: Foreign Reserves Fall From $35.03 Billion To $34.74 Billion by jedisco(m): 12:32pm On Mar 01, 2012
BlackBaron:

Broke country grin

Even Apple's got more money than that. embarassed

Man sharrap!
Our foreign reserve is not thesame as our worth
Re: Foreign Reserves Fall From $35.03 Billion To $34.74 Billion by LEXYLOV: 12:44pm On Mar 01, 2012
$34.74 Billion in Nigeria foreign reserve? shocked shocked shocked I guess a governor or senator or minister got more than that in accounts oversea, talk less of past and present presidents huh na wa ooooooooooo shocked shocked shocked
Re: Foreign Reserves Fall From $35.03 Billion To $34.74 Billion by badesco(m): 1:20pm On Mar 01, 2012
That is no news, so give us something extra ordinary.
Re: Foreign Reserves Fall From $35.03 Billion To $34.74 Billion by sweet9ja: 2:49pm On Mar 01, 2012
Not many countries have that amount in their FR. It does not completely indicate the wealth of a country.
We should worry more about the amount of development taking place in naija.
Re: Foreign Reserves Fall From $35.03 Billion To $34.74 Billion by OnlyRebel: 3:31pm On Mar 01, 2012
YES, foreign reserves dictate how healthy and rich a country economy and its outlook.
Re: Foreign Reserves Fall From $35.03 Billion To $34.74 Billion by sucre2(m): 11:59pm On Mar 01, 2012
We don't eed the figures again just spend it as you like after all we are not benefiting from the money.
Re: Foreign Reserves Fall From $35.03 Billion To $34.74 Billion by Wexelion(m): 3:48pm On Mar 02, 2012
jedisco:

Man sharrap!
Our foreign reserve is not thesame as our worth

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