The apex bank said the increase in gross reserves is driven largely by crude oil-related tax receipts and third-party inflows into the economy.

The apex bank said the increase in gross reserves is driven largely by crude oil-related tax receipts and third-party inflows into the economy.

CBN Governor Yemi Cardoso announces Nigeria's external reserves have risen to $52.52bn, sufficient for 11 months of imports.

The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, says Nigeria’s foreign exchange reserves has presently risen to 52.52 billion dollars.