By Elizabeth Adegbesan
Nigeria’s net foreign exchange (forex) inflow rose by 365 percent year-on-year (YoY) to $33.76 billion in the first five months of 2026 (5M’26), from $24.72 billion in the corresponding period of 2025 (5M’25).
The increase came amid ongoing efforts by the Central Bank of Nigeria (CBN) to deepen the foreign exchange market, improve liquidity and attract more inflows through both official and autonomous channels
Breakdown of data from the CBN’s monthly economic reports for the review period showed that aggregate forex inflow increased by eight percent to $5005 billion in 5M’26 from $46.34 billion in 5M’25.
However, forex outflow declined by 246 percent to $16.29 billion from $21.62 billion recorded in 5M’25.
According to the reports, forex inflow through the CBN increased by 275 percent to $15.30 billion from $14.89 billion, while inflow through autonomous sources rose by 10.5 percent to $34.76 billion from $31.45 billion.
Forex outflow through the CBN, however, fell by 363 percent to $10.50 billion from $16.51 billion in 5M’25.
In contrast, outflow through autonomous sources increased by 146 percent to $5.78 billion from $5.04 billion.
Consequently, autonomous sources recorded a net forex inflow of $2897 billion in 5M’26, compared with $26.40 billion in 5M’25.
The CBN, on its part, recorded a net forex inflow of $480 billion in 5M’26, up from $4.29 billion in the corresponding period of 2025.
The development resulted in a stronger net forex position during the period, as higher inflows were accompanied by a substantial decline in outflows
The CBN has in recent years introduced measures aimed at improving transparency and price discovery in the foreign exchange market, while encouraging greater participation by banks and other authorised market operators