CBN announces $3.5bn gold reserves despite naira’s freefall against US dollar.
Nigeria’s gold reserves have climbed significantly to an estimated value of about $3.5 billion, according to the Central Bank of Nigeria (CBN), in a development that reflects the country’s ongoing efforts to strengthen its external reserves and diversify its financial assets. The increase in gold holdings comes at a time when the naira has been experiencing continued pressure in the foreign exchange market. The gold holdings were accumulated through local […]