Nigeria: How CBN Is Leveraging Reserves to Provide Over 10-Month Import Cover

[This Day] The Central Bank of Nigeria (CBN) has disclosed that at $46.7 billion, the foreign reserves have the capacity to provide over 10-month of import cover for the economy. The reserves also signal significant boost to the foreign currency buffer for the country. With the drop in inflation rate to 16.05 per cent in October, the economic indicators have the potential to lift businesses and provide more buffer for sustainable economic growth.

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