The country’s foreign reserves rose from $32.98 billion (N5.11trillion) in December, 2011, to $34.67 billion (about N5.37 trillion) on Feb. 1.
The Central Bank of Nigeria (CBN) as saying that the figure represented an increase of $1.69 billion (N2.61trillion).
The CBN's website said that the reserves fluctuated between $32.98 billion and $33 billion between August and December, 2011.
It also gave an update on the value of the naira against foreign currencies, saying that it appreciated against the U.S. dollar and the pound sterling at the official, parallel and black markets.
At the official market, the naira sold for N156.7; N158.5 at the Bureau de Change, and N160 on the black market.
The naira also appreciated against the pound sterling as it sold for N248.07 at the official market, and N249 at the Bureau de Change and black market.