Jan 9 (Lagos) - Nigeria's foreign reserves hit USD 40.4 billion on January 5, 2018, indicating an increase of about one billion US Dollars between December 2017 and January 2018.
According to a CBN official, CBN policy had ensured a decline in Nigeria’s import bills from over $5 billion monthly in 2015 to about $1.5 billion in 2017.
The rising crude oil prices and relative peace in the Niger Delta region are the other factors for the increase in foreign reserves.
However Naira is still trading at 363 in the parallel market sharply lower than 305 at the official window.
reporting for easykobo.com on Tuesday, Jan 9 2018 from Lagos, Nigeria