Nigeria's Foreign Reserve Hit $42.8 Billion

CBN building 

Nigeria's foreign reserve has hit $42.8 billion.

The Central Bank of Nigeria (CBN) spokesman, Mr. Isaac Okoroafor, disclosed this at a meeting with Rice Farmers Association of Nigeria (RIFCAN) today, in Abuja.

According to Vanguard, he attributed the steady growth of the reserve to CBN's policies targeting reduction in importation of goods, especially food that can be produced in the country.

Rice production under the Anchor Borrowers Programme remains a reference point in the bank’s efforts at conserving the nation’s foreign exchange.