Nigeria dollar buffer at 4-year high of $43.3bn

LAGOS: Nigeria's foreign exchange reserves rose to their highest level in over four years at $43.28 billion as of March. 6, central bank data showed on Thursday.

Nigeria's dollar reserves have climbed back to a level they last reached in December 2013, the data showed.

Successful debt sales, including multiple Eurobond offerings last month, have helped the government accrue billions of dollars in foreign reserves, although they remain far from the peak of $64 billion in August 2008.

The government raised $2.5 billion in Eurobonds in February and $4.5 billion a year earlier.

The West African country's reserves rose 5.8 percent from a month ago. They are up 45 percent from a year ago at $29.92 billion.