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Nigeria’s foreign reserves rise to $33.16 bln as financial inflows bolster economic stability

Nigeria’s foreign reserves have experienced a notable increase, rising by 2.19% month-on-month, fueled by substantial dollar inflows from international financial institutions. According to data from the Central Bank of Nigeria (CBN), the country’s external reserves grew to $33.159 billion as of June 11, 2024, up from $32.447 billion recorded on May 10, 2024. A key…

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Presidency refutes New York Times report on Nigeria’s economic situation

The Special Adviser to President Tinubu on Information and Strategy, Bayo Onanuga has strongly refuted a recent New York Times article titled “Nigeria Confronts Its Worst Economic Crisis in a Generation” by Ruth Maclean and Ismail Auwal, criticizing its portrayal of Nigeria’s economic condition. Onanuga described the article, published on June 11, as “predetermined, reductionist,…

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