CBN: External Reserves Gained $5bn in October

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Nigeria’s external reserves rose by $5.05bn in October, according to the latest data from the Central Bank of Nigeria. The reserves increased from $36.78bn on September 30 to $41.83bn as of October 29. The Deputy Governor, Financial Systems Stability Directorate, CBN, Aishah Ahmad, at the last Monetary Policy Committee meeting in Abuja, said the external sector trends improved as reflected in the balance of trade position, which narrowed by 52.56 percent to a deficit of N1.87tn in the second quarter of 2021 from N3.94tn in Q1.

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