Debt servicing may have been responsible for the dipping of Nigeria 's foreign reserves from $34.45 billion to $32.61 billion within one month. Specifically, about $1.8 billion was spent from the foreign reserve within the period.Debt servicing may have been responsible for the dipping of Nigeria ’s foreign reserves from $34.45 billion to $32.61 billion within one month. Specifically, about $1.8 billion was spent from the foreign reserve within the period.
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. “It is important to have access to funds to send kids abroad and do things which are important to health, etc. So it’s important not to keep them out of the mainstay. So yes, but in terms of intervention, frankly, that’s not my intention at all to intervene in the markets What you see concerning the shifts in our reserves is the shifts that you find in any country’s reserve situation,” he stated.
Cardoso attributed the stability the current team has achieved to strong support from the political leadership. Debt servicing may have been responsible for the dipping of Nigeria's foreign reserves from $34.45 billion to $32.61 billion within one month. Specifically, about $1.8 billion was spent from the foreign reserve within the period.Stakeholders in the anti-corruption sector have declared that Nigeria's fight against financial crimes might be taking a significant leap in the right direction with the implementation of beneficial ownership information.
Stakeholders in the oil-rich but impoverished Niger Delta region have picked holes in the global call for an energy transition from fossil fuel to renewable energy, saying that the process and intentions of the West should be interrogated before African countries embrace it hook, line and sinker.
Foreign Reserves Nigeria Yemi Cardoso
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