Nigeria’s foreign reserves dropped to $30.04 billion by Thursday, November 26, the Central Bank of Nigeria has said.

The bank disclosed this on its website on Monday.

It said the figure dropped by $7 million, from $30.11 billion recorded on October 26.

The bank said the $30.04 billion represented the “gross” amount, while $29.33 billion was “liquid” and $719.32 million “blocked”.

Nigeria’s foreign reserves has oscillated between $28 billion and $36 billion in the last one year.

The reserves hit $36.3 billion in October 2014, fell to $32.4 billion in January 2015, and stood at $28.6 billion by May 2015.

Under the new government of Muhammadu Buhari, it gained marginally to $31.9 billion by July, before sliding again to $29.9 billion by September.

Credit: NAN