By InvestAdvocate

Lagos (INVESTADVOCATE) – Nigeria’s foreign exchange reserves dropped 9.04 percent to $30.87 billion by March 4, from $33.94 billion a month earlier, CBN data showed on Friday.

A Reuters report say the central bank has used the reserves to support the ailing naira currency in Nigeria, which has been affected negatively by falling global oil prices and uncertainty over the delayed presidential elections due later this month.