External reserves now $52bn, as net reserves exceed $40bn
•Reforms restore investor confidence •Bigger banks will drive growth – Cardoso By Babajide Komolafe Governor of the Central Bank of Nigeria, CBN, Mr.
Olayemi Cardoso, yesterday, said Nigeria’s external reserves have risen to about $52 billion, while net external reserves have exceeded $40 billion.” Speaking on the banking sector, Cardoso dismissed concerns that banks were concentrating on government securities at the expense of businesses, saying: “Short term, maybe it’s not wrong.
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