29.06.2011 - Nigeria reserves may rise to strongest in more than year, FBN Capital says
Nigeria’s foreign-currency reserves may rise 24 percent to the highest in a year in the second half of 2011 as it creates a sovereign wealth fund, tightens spending and lifts curbs on inflows, FBN Capital Ltd. said. The foreign-currency reserves of Africa’s top oil producer may rise to $40 billion, FBN Capital, the investment-banking unit of First Bank of Nigeria Plc (FIRSTBAN), said.............................................Full Article: Source
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