Why Nigeria’s foreign reserves dipped

Debt servicing may have been responsible for the drop in Nigeria’s foreign reserves from $34.45 billion to $32.61 billion within one month. Speaking at the ongoing Springs meeting of the World Bank Group and International Monetary Fund in Washington, the United States, the governor of the Central Bank of Nigeria, Yemi Cardoso said some…

Dispelling any apprehension, Cardoso stressed that just as money is going out money is also coming into the foreign reserves, saying that the country recorded an inflow of about 600 million dollars. The Independent Media and Policy Initiative has said former Vice President Atiku Abubakar sparked controversy over the Lagos-Calabar coastal highway project to discredit it. The group’s chairman, Chief Niyi Akinsiju Cifian, disclosed this in a statement on Wednesday. Atiku Abubakar faulted the statement by Works Minister, Dave Umahi, that the 700km Lagos-Calabar Coastal Highway…

The National Chairman of the All Progressives Congress , Dr. Abdulahi Ganduje, has received support from his Local Government Area and ward executives from Kano State. They paid Ganduje a solidarity visit on Wednesday despite alleged media reports of his purported suspension from the APC. The party added that the report of his suspension…

The Federal Government has opposed the conditions submitted by the detained leader of the proscribed Indigenous People of Biafra Nnamdi Kanu for the resumption of his trial. At Wednesday's proceedings at the Federal High Court Abuja, Kanu agreed to the acceleration of prosecution of the charges against him on the ground that his conditions…

Olayemi Cardoso

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