Nigeria's foreign exchange reserves rose 34.45 percent year-on-year to $44.25 billion by December 24, latest figures from the central bank showed on Monday.
The forex reserves of Africa's second biggest economy were down from their year peak of $44.64 billion on December 7. Reserves stood at $44.03 billion a month ago and $32.91 billion the same the same time last year.
Nigeria's central bank has been on a drive to increase foreign exchange reserves this year in a bid to protect Africa's biggest crude exporter from oil price shocks and to defend the naira currency.
Nigerian forex reserves up 34.4 pct yr-on-yr by December 24
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Nigerian forex reserves up 34.4 pct yr-on-yr by December 24
