The Central Bank of Nigeria 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 per cent over the $37.85 billion recorded on April 1.
The News Agency of Nigeria reports that the reserves has been fluctuating between $43.51 billion in January and $37.91 billion in April.
NAN recalls that Dr. 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.
Okonjo-Iweala said this would enable the economy to be strong enough in the event of any global adverse development.