Africa Business Radio

Nigeria’s external reserves have risen to their highest level in 25 months to $42 billion presently due to the inflow of the recent Eurobond issued by the federal government.The Debt Management Office had explained that the Order Book peaked at $12.2 billion, which enabled the Federal Government of Nigeria to raise $1 billion more than the $3 billion it initially announced.DMO says this exceptional performance has been described as one of the biggest financial trades to come out of Africa in 2021 and an excellent outcome.The DMO says bids for the Eurobonds were received from investors in Europe and America, as well as Asia.