Foreign Re

According to the Central Bank of Nigeria (CBN), reported levels of the Nigerian External Reserves (“the Reserves”) as at 15th of April 2015 stands at US$29.3bn – its lowest level since 2010. Worthy of note is the fact that the Reserves have been on a downward trend since the beginning of the year on the back of falling global oil prices and CBN’s resolve to defend the Naira. The Reserves has declined US$5.0bn (16.9%) in…