NIGERIA’S LOWEST FX RESERVES IN OPEC SHOW CBN’S NAIRA CHALLENGE

Nigeria has one of the lowest foreign-exchange reserves, among the 12-member Organisation of Petroleum Exporting Countries (OPEC), highlighting the challenge before the Central Bank (CBN), as it struggles to defend the naira amid falling oil prices.

FX reserves in Africa’s largest economy are low both in absolute terms and as a percentage of Gross Domestic Product (GDP).

Read more @ Businessday