Net Forex Inflow Rises 89 To 59.6bn In 2024

The net foreignexchange inflows through the economy rose by 89 percent to 59.6 billion in 2024 from 31.52 billion in 2023.

This development was driven by 39.7 percent, Year-on-Year, YoY increase in net forex inflow through autonomous sources and 67.5 per cent, YoY increase in net forex inflow through the Central Bank of Nigeria, CBN.

Data from the CBN, quarterly Economic Statistics Report for the review period showed that forex inflow to the economy rose YoY by 49.8 percent to 98.6 billion in 2024 from 65.81 billion in 2023 .

Similarly, forex outflows from the economy rose by 13.5 percent YoY to 38.95 billion in 2024 from N34.29 billion in 2023.