The Central Bank of Nigeria (CBN) has said that the nation’s external reserves stood at $37.91 billion as at April 15.
This was posted on the apex banks’ website on Wednesday.
According to the apex bank, $36.87 billion of the reserves is in ‘liquid’ form, while $1.048 billion is in ‘blocked’ form.
The new figure represents an increase of $60 million or 2.77 percent over the $37.85 billion recorded on April 1.
The reserves have been fluctuating from $43.51 billion in January to $37.91 billion in April.
It would be recalled that Ngozi Okonjo-Iweala, the minister of finance and coordinating minister for the economy, had said that there was the need for Nigeria to shore up its external reserves.
She said this would enable the economy to be strong enough in event of any global adverse development.
NAN
