The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso has told the Senate that Nigeria's External Reserves hit $52.73billion

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.