The Central Bank of Nigeria (CBN) has recently unveiled alarming statistics, revealing that Nigeria’s Net Foreign Assets (NFA) have nosedived by a staggering 91.7%, settling at a mere N591 billion. This precipitous decline paints a dire picture of the nation’s economic landscape, with ripple effects that threaten to send shockwaves through the economy.

This drastic drop follows a rollercoaster ride in Nigeria’s NFA that began in June 2023. At that time, the nation’s NFA soared to a remarkable N11 trillion, up from N4.9 trillion, only to subsequently dwindle to N9.2 trillion, then N7.1 trillion, and ultimately..............

https://ratecaptain.com/nigerias-net-foreign-assets-plummet-91-7-is-the-economy-teetering-on-the-brink-of-collapse/