Nigeria's FX Spending Reaches $7.61 Billion in June 2026

In June 2026, Nigeria's foreign exchange (FX) utilisation hit a record $7.61 billion, marking a 78.1% increase from $4.27 billion in June 2025, according to the Central Bank of Nigeria's Q2 2026 Statistical Bulletin. This figure also represents a 36.1% rise from the $5.59 billion recorded in May 2026.

The increase was primarily attributed to spending on invisible transactions, especially in financial and other services, which accounted for approximately 74% of total FX utilisation. Financial services saw the largest growth, rising by about 108% year-on-year, while other services not categorized elsewhere more than doubled, increasing by approximately 132%.

The June 2026 figure is the highest monthly total recorded from April 2022 to June 2026, indicating a significant trend towards invisible transactions over physical imports in Nigeria's FX spending.