Nigeria’s external reserves diminished by 2.8 per cent in one month to $23.95 billion last month, compared to $24.615 billion as at September.
The latest external reserves position released by the Central Bank of Nigeria shows that the reserves derived mostly from the proceeds of crude oil sales fell by $667 million as the country’s earnings continued to shrink.
The Central Bank attributes the development to the spate of attacks on oil installations and pipeline vandalism in the Niger-Delta
