Nigeria’s net foreign exchange inflow increased by 36.5 per cent year-on-year to $33.76 billion in the first five months of 2026, compared with $24.72 billion recorded in the corresponding period of 2025.
The increase was driven by higher foreign exchange inflows and a significant reduction in outflows during the period, amid ongoing efforts by the Central Bank of Nigeria (CBN) to deepen the forex market, improve liquidity and attract inflows through official and autonomous channels.
Data from the CBN’s monthly economic reports for the five-month period showed that aggregate forex inflow rose by eight per cent to $50.05 billion in 5M’26, from $46.34 billion in 5M’25.
At the same time, total forex outflow fell by 24.6 per cent to $16.29 billion, compared with $21.62 billion recorded in the corresponding period of 2025.
A breakdown of the figures showed that forex inflow through the CBN increased by 2.75 per cent to $15.30 billion from $14.89 billion. Inflows through autonomous sources recorded a stronger increase, rising by 10.5 per cent to $34.76 billion from $31.45 billion.
The decline in outflows was particularly pronounced through the CBN. Forex outflow through the apex bank fell by 36.3 per cent to $10.50 billion in the first five months of 2026, compared with $16.51 billion in the same period of 2025.
In contrast, outflow through autonomous sources increased by 14.6 per cent to $5.78 billion from $5.04 billion.
The higher inflows and lower overall outflows resulted in a stronger net foreign exchange position during the period. Autonomous sources recorded a net forex inflow of $28.97 billion in 5M’26, up from $26.40 billion in 5M’25.
The CBN also recorded a positive net forex inflow of $4.80 billion during the period, compared with $4.29 billion in the corresponding period of 2025.
The latest figures indicate an improvement in Nigeria’s net foreign exchange position during the first five months of the year, supported by increased inflows from autonomous sources and reduced outflows through the CBN.
The development comes against the backdrop of measures introduced by the CBN in recent years to improve transparency and price discovery in the foreign exchange market.
The apex bank has also sought to encourage greater participation by banks and other authorised market operators as part of efforts to improve liquidity and strengthen the functioning of the forex market.
