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https://leadership.ng/2018/01/01/foreign-reserves-gain-12-9bn-1-year/?_e_pi_=7%2CPAGE_ID10%2C1430050818
$12.9 billion or nearly 50 per cent in one year amid weekly intervention of the Central Bank of Nigeria (CBN).
The foreign reserves monitored by CBN opened 2017 at $25.84 billion and grew to $38.73 billion as at December 28, 2017.
The foreign exchange had reached its bottom at about $23.6 billion in October 2016 from as high as $40 billion in January 2014.
In September 2008, Nigeria’s foreign exchange reserves hit $62 billion, with federal government spending $12 billion to settle external debts.
CBN governor, Mr. Godwin Emefiele, in November said, “It is my belief that if we remain resolute with our efforts, policies and actions we can attain foreign exchange reserve position of about $40 billion by end 2018”.
Emefiele, in December, disclosed that the nation’s foreign reserves had risen to $38.2 billion, the highest in 39 months.

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