Nigeria’s external reserves have increased yet again, reaching $39.07 billion as of September 19, 2024.
This is according to the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, at a press briefing at the end of the 297th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday.
The communique released after the MPC briefing read: “The external reserve stood at US$39.07 billion as at 19th September 2024 an increase of 17.4 per cent compared with US$33.28 billion in the corresponding period of 2023. This represents 8 months of import cover for goods and services and 13 months of imports of goods only.”
However, checks by Naijaonpoint show that the CBN website puts gross reserves at $37.39 billion on September 19, 2024, less than what the CBN governor presented.