Data from the Central Bank of Nigeria has hinted that the net foreign exchange (FX) inflows through the economy rose by sixty five point seven per cent year-on-year to forty six point nine two billion dollars in the first ten months of 2024.

The CBN’s Economic Report for the review period showed that the rise was from twenty eight point three one billion dollars in the corresponding period of 2023.

Aggregate forex inflow to the economy rose Year on year by forty one per cent to seventy nine point eight billion dollars in ten months from fifty five point five seven billion in ten months of 2023.

However, forex outflows from the economy fell by one point four per cent Year-on-year to twenty nine point eight four billion dollars in ten months of 2024, from thirty point two nine billion naira in ten months of 2023.

Analysis showed that inflows through autonomous sources rose by zero point six per cent Year-on-year to thity five point eight two billion dollars in ten months of 2024, from thirty four point four billion dollars in ten months of 2023. 

Similarly, outflow through autonomous sources rose sharply by one ninety five percent Year-on-year to seven point eight billion dollars in ten months of 2024 from two point four billion dollars in ten months of 2023.