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Nigeria’s foreign reserve records $2.76 billion boost in September 2021

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Nigeria’s foreign reserve received a boost of $2.76 billion in the month of September 2021 to close at $36.78 billion as of the end of the month. This is according to data tracked by Nairametrics from the Central Bank of Nigeria (CBN).

This gain represents the highest monthly gain recorded since May 2020, when the reserve gained $3.07 billion in a single month. Notably, Nigeria’s foreign reserve increased by 8.13% from $34.02 billion recorded as of August 2021 to $36.78 billion in the review month.

Similarly, the external reserve has gained a sum of $1.41 billion year-to-date compared to $35.37 billion recorded as of the end of 2020, representing a 4% increase between January and September 2021.

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