CBN Reports $6.3bn Dollar Inflows Strengthening FX Position
Nigeria's foreign exchange position has strengthened significantly, driven by foreign portfolio investments, private-sector dollar inflows, and diaspora remittances, which have increased liquidity in the market. The Central Bank of Nigeria (CBN) reported that net foreign portfolio investment inflows totaled $6.3 billion from January to August 2026.
Muhammad Sani Abdullahi, the CBN Deputy Governor, shared this information during the 38th Seminar for Finance Correspondents and Business Editors held in Abuja. Abdullahi noted that stronger foreign exchange inflows have led to improved market stability, reducing the central bank's reliance on direct market interventions.
He highlighted that of the total $10.8 billion in flows recorded in July 2026, $7.3 billion, or nearly 68 percent, originated from autonomous sources, underscoring the increasing role of non-CBN sources in supplying dollars to Nigeria's foreign exchange market.
Plus234Feed summary based on reporting from The Will. Read the original report below.
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