Foreign reserve hit 3 years high at $38.2billion


The Central Bank of Nigeria has disclosed that the nation’s foreign reserve has reach $38.2 billion, the first time in nearly three years.

The Governor of the Central Bank of Nigeria, Godwin Emefiele made the disclosure at the commissioning of the Blueband margarine production line in Agbara, Ogun state on Tuesday.

The foreign reserve which stood at $40 billion in October 2014, went down to $23 billion in January 2016, following a crash in commodity prices at the international market.