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Nairaland Forum / Nairaland / General / Politics / Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years (10878 Views)
Nigeria’s FX Reserves Hit $34.14bn / CBN: Foreign Reserves Drop To $36.12 Billion / Oil Price Sinks To Lowest Level In 16 Years (2) (3) (4)
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Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Racoon(m): 4:34pm On Apr 17 |
Nigeria’s foreign reserves fell to $32.29 billion on April 15 — the lowest level in over six years. According to the latest data from the Central Bank of Nigeria (CBN), TheCable Index observed that on March 18, the reserves moved from $34.44 billion — the highest level in 2024 — to $32.2 billion on April 15. The foreign reserves dropped by $2,15 billion or 6.26 percent.https://www.thecable.ng/nigerias-fx-reserves-drop-to-32bn-lowest-level-in-six-years/amp/ 6 Likes
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Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Ofunaofu: 4:36pm On Apr 17 |
1 Like |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Golan007: 4:36pm On Apr 17 |
Racoon loves this kind of News. 108 Likes 3 Shares |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Racoon(m): 4:36pm On Apr 17 |
Just imagine the depletion of the foreign reserves of this nation by these crooks in government. Using it to criminally subsidize fuel and the dollar. Hehehe! I laugh. The lean reserve is being used to sustain the forex. It will still plung, down, depreciate and then worsen some more. 48 Likes 1 Share
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Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by slivertongue: 4:36pm On Apr 17 |
APC scamming NIGERIANS 56 Likes 3 Shares |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Racoon(m): 4:37pm On Apr 17 |
Golan007:"The last time the foreign reserves stood at this level ($32.29 billion) was on September 9, 2017, when the CBN reported N32.28 billion. The decline in foreign reserves comes amid CBN intervention in the parallel market in a bid to crash the FX rate." Think with your brain first. 27 Likes 3 Shares |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Golan007: 4:38pm On Apr 17 |
Racoon: Think with your brain. The impact on the man on the street is what's most important. 114 Likes 1 Share |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Akwamkpuruamu: 4:43pm On Apr 17 |
Only fools believe that naira is stabilising without A dip in the foreign reserve. Same thing Emefiele did, that they are crucifying him for. Government of deception. 81 Likes 1 Share |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by jmoore(m): 4:44pm On Apr 17 |
Golan007:A painter of Garri is 3,000 naira. We can see the tinubulating impact on the man that depends on garri for his stomach. 59 Likes 5 Shares |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Racoon(m): 4:46pm On Apr 17 |
Golan007:What the CBN is doing is a disastrous temporary relief measure. Just as the silly lie and propaganda the government have been conjuring to deceive the zombies. The supporters of this government are more stupid. A govt without any economic transparency enjoy leading stupid people. Birds of the same plumage forage together. 17 Likes
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Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Splashme: 4:51pm On Apr 17 |
The most foolish Nigerians are APC supporters. See, even a primary School CBN governor can do what Cardoso is doing. The man is simply dipping a hand in our foreign reserves, share it at subsidised rates for Banks & BDCs to sell to Nigerians at regulated rates. Same thing Emefiele was doing . 51 Likes 4 Shares |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by socialmediaman: 4:51pm On Apr 17 |
PressMyButton lwisee OgaFactCheck Pecoleee345 tollyboy5 BreconHills adeememman any comments? LegendHero you’re needed here, we have to counter this. Tell them that Binance executives looted it and they’ll soon be fished out. Hurry, make something up 10 Likes 1 Share |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by LegendHero(m): 4:52pm On Apr 17 |
Lol, Nigeria media and nonsense sensational reporting. Below is a quick chart I did on the FX reserve data from CBN. You can see how the foreign reserve move average through the years from 2006 to 2024. Cardoso paid over $6bn in FX backlog, repayed trillion from the way and means, where do they expect him to see the money aside dipping in the foreign reserve and borrowing from external source? Even the Bloomberg report that they are all copying and pasting clearly mentioned the above in their report. Just that Nigeria media don't use brain in copying. To all those kids screaming keep your dollar, how many of una even get dollars lol? For those with dollar, keep it so that your family can cry for you when you lose your life fortune. God bless Nigeria. 103 Likes 4 Shares
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Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by ValarDoharis: 4:58pm On Apr 17 |
Breeze don dey blow fowl yansh 115 Likes 2 Shares |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Dittodat: 4:58pm On Apr 17 |
What's the big deal in a 2 Billion dollar drop? Stop trying to make a mountain out of a mole. 105 Likes 4 Shares |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by omoredia: 4:58pm On Apr 17 |
Tinubu the biggest yahoo boy the world has ever seen 9 Likes 3 Shares |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by PHIPEX(m): 4:59pm On Apr 17 |
Robbing Peter to pay Paul. There is no special.thinking in using reserves to shore up naira value against dollar. Sadly we are postponing the judgement day. It's more like withdrawing your bank savings to buy food instead of working to make more money. It'll be a double edge sword if we deplete our reserves and dollar rises again, what will we fall.back to? 9 Likes 1 Share |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by ignis: 4:59pm On Apr 17 |
Let us keep wasting and pumping the foreign reserve to make dollar rate to fall to #500. Robbing Peter to pay Paul kind of leadership. 5 Likes 1 Share |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by bigdammyj: 4:59pm On Apr 17 |
Noted. |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Raskimonojendor: 4:59pm On Apr 17 |
Stevenson20:And also keep your handkerchief closer Golan007:Of course emergency lovers of Nigeria will love the news. Splashme:At splashme, check the screenshot below for your enjoyment. 87 Likes 1 Share
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Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Quest7777: 4:59pm On Apr 17 |
Increased Production and Exports remain one sure way to strengthen the Naira, not all these superficial bulaba economics they have been scamming us with. 5 Likes 1 Share |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Goodvibes007: 4:59pm On Apr 17 |
Dittodat:It's about $1.5B and not even up to $2B. Mean while: PBAT administration met $34 billion in our foreign reserve June 2023. Off the top of my head :- -This administration paid $500 million Eurobond in July 2023. -Paid external debt in Q4- : $900 million -Paid CBN legacy debt of $7 billion -Paid ways and means debt of $4 billion That is $12 billion. I am aware the government also paid $1 billion to the USA government for weapons in November 2023 We don’t know how much credit line and importation has been paid for. We are yet to see what the government paid for external debt in Q 1 2024. But let’s cry, because we have a $32.5 billion in our reserves. $1.5 billion drop from where this administration met it despite over $12 billion expenditure. 21 Likes 4 Shares |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by sylve11: 4:59pm On Apr 17 |
Hmmm |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by specialmati(m): 5:00pm On Apr 17 |
bullion van here you are.someone should open the bullion van let's check 5 Likes
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Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Appletek: 5:00pm On Apr 17 |
This news is about business and economy but the mods moved it to the politics section. This has confirmed the suspicions of the politics behind the tears of those crying over the rise of the Naira and crash of the dollar. They prefer to cry and they will cry to death. 1 Like |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Julibet: 5:00pm On Apr 17 |
Seems Aisha was right when she said keep your dollars close. 1 Like |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by emmabest2000(m): 5:00pm On Apr 17 |
slivertongue: 2 Likes 1 Share
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Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by NOETHNICITY(m): 5:00pm On Apr 17 |
We are all aware that the government utilized about 7b dollars to offset backlog. Tell us something new 7 Likes |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Stevenson20: 5:01pm On Apr 17 |
Tinubu is really working my ass.... Make una keep una dollars tight shaa |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by Provesto: 5:01pm On Apr 17 |
Enjoy the ride when it's good... Stay strong and tough when the going gets rough... How much longer would the reserves bleed so that Naira would stand strong against the dollar? |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by NaughtyBrainiac: 5:01pm On Apr 17 |
Hm |
Re: Nigeria’s FX Reserves Drop To $32bn — Lowest Level In Six Years by tuoyoojo(m): 5:01pm On Apr 17 |
Ok 1 Like |
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