Published 17 days ago

Cardoso links depleting external reserves to debt repayments

Summary by Punch Newspapers

The Central Bank of Nigeria has clarified reasons for the significant decline in the nation’s foreign exchange reserves, asserting that it wasn’t primarily aimed at defending the naira, as commonly believed, but rather to partially repay debts owed to creditors. The bank further expressed its desire to minimise its involvement in the market, aiming to

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CBC News

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17 days ago·Canada

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Punch Newspapers

Cardoso links depleting external reserves to debt repayments

18 days ago

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texas.gov

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17 days ago

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Daily Trust

Depleting external reserve: We are not defending naira - Cardoso - Daily Trust

CBN Governor Yemi Cardoso has spoken on concerns over the declining external reserve, saying the apex bank is not defending the naira. Cardoso, who spoke on the sideline of the ongoing spring meeting of the International Monetary Fund/World Bank in Washington DC, said the depleting external reserve is mostly due to factors such as debt repayments, other obligations and depletion due to the ordinary course of business. He also stated that there w…

17 days ago

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