CBN increases gold holdings to $3.5 billion, solidifying reserve strategy

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LagosPolice

LagosPolice

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Oct 14, 2020
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The Central Bank of Nigeria (CBN) has added responsibly sourced gold to its foreign reserves, increasing its gold holdings to $3.5 billion.

This move marks a significant step in Nigeria’s reserve diversification strategy, and the gold was refined to London Bullion Market Association (LBMA) Good Delivery standards.

The update was provided in a statement by the CBN on Wednesday.
 
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LagosPolice said:
The Central Bank of Nigeria (CBN) has added responsibly sourced gold to its foreign reserves, increasing its gold holdings to $3.5 billion.

This move marks a significant step in Nigeria’s reserve diversification strategy, and the gold was refined to London Bullion Market Association (LBMA) Good Delivery standards.

The update was provided in a statement by the CBN on Wednesday.
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This is best way to go and africa should all go that way and move from dollar foreign reserve to more of gold
 
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