Foreign Reserves will Remain Healthy In Spite of 2015 Elections – CBN

The coming 2015 elections will not deplete the fortunes and reserves of the country, Godwin Emefiele, Central Bank of Nigeria (CBN) Governor, said in New York yesterday.
Speaking at the Africa Business Summit, a high level international forum on Africa’s investment climate and markets, with the theme, “Africa is Rising, There are Challenges, Still We Rise”, Emefiele said the Nigerian economy is currently doing well and that the 2015 elections would not make it take a downturn. He added that Nigeria currently has a reserve of about US$41 billion, which is the highest in the continent. He said though there were predictions in some quarters that crude prices would fall and revenues would drop, a US$39 billion to US$41 billion reserve was more than sufficient to support imports and production for the next seven to eight months. 

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