Nigeria’s external reserves fell by 2.8% to US$23.948 billion as at October 27, 2016, compared with the US$24.615 billion it was as at September 27, 2016, as attacks of oil installations proceeds in the Niger Delta region.
The latest external reserves position discharged by the Central Bank of Nigeria (CBN) showed that the reserves derived mostly from the proceeds of crude oil sales fell by $667 million in the last month, as the country’s earnings continued to shrink.
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