Wednesday, March 13, 2019

CBN: Nigeria achieves $2.80m surplus, improves balance of payment - ITREALMS

Apex bank in the country, the Central Bank of Nigeria (CBN) has said that the nation’s Balance of Payment improved by a surplus of $2.80 million in the fourth quarter 2018, from $4.54 million recorded in the third quarter of same year, reports ITREALMS.

The CBN in a report entitled “Brief on Balance of Payments Statistics Q4’18” posted on its website and made available to ITREALMS.

According to CBN, “The provisional Balance of Payments (BOP) estimates for Q4 2018 showed a significant improvement in the BOP outcome.

“The overall balance of payments recorded a surplus of $2.80 million compared to a huge deficit of $4,542.08 million and a surplus of $6,180.40 million recorded in the preceding quarter and corresponding period of 2017, respectively.

“The current account balance (CAB) improved from a deficit of $1,544.41 million in Q3 2018 to a surplus of $1,104.57 million in Q4 2018.

“The financial account balance indicated a net acquisition of financial assets of $2,327.91 million in the review period as against a net incurrence of financial liabilities of $4,615.17 million recorded in the preceding period.”

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