Nigeria’s gross foreign currency reserves have depleted by $2billion since this year, BusinessDay check on the reserves movement at the Central Bank of Nigeria (CBN) revealed.
The nation’s foreign reserves which stood at $40.883billion as at January 2, 2025 has decreased remarkably to $38.880billion as at February 17, 2025, according to CBN data.
In 2024, Nigeria raised $3.8 billion in debt– a $900 million domestic bond, a $2.2 billion Eurobond and $750 million out of a $2.2 billion World Bank loan package.