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Nigerian Government Squandered 67 Billion Dollars In Foreign Reserves?

AFRICANGLOBE - Former Nigerian Minister of Education Dr Oby Ezekwesili said the squandering of $67 billion in foreign reserve by the two subsequent administrations after Olusegun Obasanjo's was a clear proof of Nigeria's failure to make the right developmental choices.

Nigeria’s Foreign Reserves Fall

Nigeria's foreign reserves continued its downswing as it reduced further by $220 million in four days, to close at $37.242 billion, data from the...

South Africa to Contribute $2 Billion to IMF Firewall Against Eurozone...

South Africa has committed to contribute $2 billion of its reserves to the International Monetary Fund's firewall fund, the Presidency said on Tuesday. "Along with...

Nigeria Ranks 44th Globally in External Reserves

Nigeria currently ranks 44th position globally in the size of its external reserves, which has been put at US$34.68 billion as at March 8,...

Nigeria Converting Billions From Us Dollar to Chinese Yuan

Nigeria's central bank will convert 10% of its $33-billion in foreign reserves to the Chinese yuan, as trade between the two countries continues to grow. We asked Thabo Ncala, co-portfolio manager at Stanlib's Africa Fund whether the growing support for the yuan indicates waning confidence in the dollar.