Yemisi Izuora
The Central Bank of Nigeria (CBN) has in its website disclosed that the nation’s foreign reserves has fallen to $30.04 billion as at Nov. 26.
The bank also feared that there might be more pressure on the foreign exchange market which could rise in the internal demand for dollars.
It said that the foreign reserve figure dropped by $7 million from $30.11 billion recorded in Oct. 26 and explained that the $30.04 billion represented the ‘gross’ amount, $29.33 billion was ‘liquid’, while $719.32 million was ‘blocked.’
The CBN said that the price of crude oil at the international market stood at $44.27 per barrel as at Nov. 30.
Meanwhile, the Central Bank of Nigeria (CBN) has dismissed stories purporting that some deposit money banks in Nigeria are “experiencing stress”.
The CBN clearly declared that
No Nigerian bank is “experiencing stress” and that such stories as published is not only false and baseless but a figment of the writer’s imaginations.
CBN’s Director, Corporate Communications Ibrahim Mu’azu,in a statement assured the banking public that the Nigerian banking system is sound and that all banks are in compliance with both the regulatory and prudential requirements.
“The Governor, on November 24, 2015, during the Monetary Policy Committee (MPC) press briefing, also made it categorically clear that no Nigerian bank is in distress.
The CBN therefore urges all bank customers and the general public to disregard the publication as it is false, mischievous and aimed at throwing the banking public into unnecessary panic” Mu’azu assured.