Net Forex Inflow Grows 12% to $41.73bn in Eight Months — CBN

Nigeria’s net foreign exchange inflow rose by 12.3 per cent year-on-year to $41.73 billion in the first eight months of 2025 (8m’25), up from $37.14 billion recorded in the corresponding period of 2024 (8m’24).

An analysis of the Central Bank of Nigeria’s (CBN) monthly economic reports showed that the growth was supported by a 21.3 per cent increase in foreign exchange inflows, which outweighed a sharp 34.4 per cent rise in forex outflows during the period.

According to the apex bank, total forex inflows into the economy climbed to $74.14 billion in 8m’25, compared with $61.09 billion in the same period of 2024. In contrast, forex outflows expanded by 34.4 per cent year-on-year to $32.2 billion, from $23.95 billion previously.

Quarterly trends, however, indicated some moderation, as net forex inflows declined by 4.14 per cent quarter-on-quarter to $14.57 billion in the second quarter of 2025 (Q2’25), down from $15.2 billion in Q1’25.

The CBN also reported a significant month-on-month drop in August 2025, with net forex inflow falling to $3.74 billion from $8.22 billion in July, largely due to weaker inflows from autonomous sources.

In its latest Monthly Economic Report, the bank stated:

“The economy recorded a lower net foreign exchange inflow, due largely to reduced inflow from autonomous sources. Aggregate foreign exchange inflow fell to $7.09 billion, from $10.67 billion in July, while aggregate outflow increased to $3.36 billion, from $2.46 billion in the preceding month. This resulted in a net inflow of $3.74 billion, compared to $8.22 billion in the preceding month.”

The report further showed that foreign exchange transactions through the Bank declined, with inflows dropping to $3.04 billion from $4.29 billion, while outflows rose to $1.94 billion from $1.37 billion. Consequently, the Bank recorded a net inflow of $1.10 billion, compared with $2.92 billion in July.

Through autonomous sources, forex inflows fell to $4.05 billion from $6.39 billion, while outflows eased slightly to $1.42 billion from $1.09 billion. As a result, net inflows from autonomous sources declined to $2.64 billion, compared with $5.30 billion in the previous month.

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