According to Channels Television, Nigeria’s external reserves declined to a record low of 24.8 billion dollars as at September 16, 2016, a report said yesterday.
The Channels Television report quoted the Central Bank of Nigeria (CBN) as explaining that the forex reserves shed 600 million dollars from 25.4 billion dollars recorded on August 31, 2016.
“This follows CBN’s frequent interventions at the inter bank official foreign exchange market in recent weeks, as severe dollar shortage continues to weigh on the economy,” the report said.