
CBN headquarters, Abuja
Nigeria’s external reserves have dropped to $44.84bn, according to a latest Central Bank of Nigeria’s report.
The reserves, which fell to the $44bn mark on November 8, had hovered on $44.9bn until November 15 when it recorded $44.89bn.
It, however, dropped to $44.84bn on Monday.
The reserves had fallen to a 10-month low at $44.9bn on November 8.
The last time the reserves dropped to $44.9bn was on January 17, 2013.
According to the data, the reserves
dropped steadily from $45.9bn on September 20 to the $44.9bn on November
8. This means the reserves fell by $1bn within seven weeks.
The external reserves had fallen to a nine-month low at $45.083bn on October 14, about $83m above the $44bn mark.