FX Inflows Rise 31.9% to $4.36bn in July
Nume Ekeghe Inflows into Nigeria’s Foreign Exchange Market (NFEM) rose by 31.9 per cent month-on-month to $4.36 billion in July 2026, reaching their highest level in five months, according to
Foreign exchange market inflows into Nigeria surged by 31.9 percent in July 2026, reaching a five-month high of $4.36 billion, according to Cordros Securities. The uptick was primarily fueled by surging inflows from local sources, which comprised 66.7 percent of the total. Cordros reported that local inflows climbed by 79.8 percent month-over-month to $2.91 billion in July, up from $1.62 billion in June.
The Central Bank of Nigeria's (CBN) market intervention and higher non-bank corporate inflows contributed to this surge. Conversely, foreign inflows dwindled by 13.9 percent to $1.45 billion, as declines in foreign portfolio investments and other corporates dampened their growth, despite an exceptional rise in foreign direct investments.
The CBN's ongoing efforts to boost liquidity and enhance price discovery in the forex market appear to have bolstered foreign direct investments, albeit not enough to offset the decline in foreign inflows.
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