Nigeria's FX Inflows Surge 31.9% to $4.36bn in July 2026

In July 2026, inflows into Nigeria’s Foreign Exchange Market (NFEM) increased by 31.9% month-on-month, reaching $4.36 billion, the highest level in five months, according to a report from Cordros Securities. This rise was largely attributed to stronger inflows from local sources, which accounted for 66.7% of total inflows during the month.

Specifically, inflows from local sources surged by 79.8% month-on-month to $2.91 billion, compared to $1.62 billion in June. The increase was driven by significant market intervention from the Central Bank of Nigeria (CBN), which saw an 11.8-fold increase in its interventions, alongside a 31.9% rise in inflows from non-bank corporates.

However, there was a decline in inflows from individual sources by 54.0% and from exporters by 12.9%. The total inflows for June were reported at $3.31 billion.