CBN says Nigeria

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The Central Bank of Nigeria (CBN) has said that the country’s total foreign exchange reserves stood at 35.233 billion dollars as at March 22.

This was against the earlier figure of 37.534 billion dollars released by the apex bank. The correction was contained in a statement issued by the director of the Reserves Management Department, Mr Lamido Yuguda, and posted on the bank’s website.

It said that the figure for March 19 was 35.076 billion dollars against earlier published figure of 34.957 billion dollars.

“We regret to state that there was error in the computation of the daily external reserve position for the four days during the said period,” the statement said.

The Central Bank of Nigeria had on March 26, said the nation’s foreign exchange reserves rose by seven per cent to 37.534 billion dollars between March 19 and 22.