Net foreign exchange inflow into Nigeria declined by 18.3 per cent year-on-year, dropping to $48.1 billion in the nine months ended September 2025 from $58.8 billion in the same period of 2024, according to data from the Central Bank of Nigeria (CBN).
The fall was largely due to a sharper decline in forex inflows, which fell 15 per cent YoY, outpacing a 12.2 per cent reduction in foreign exchange outflows. Total forex inflow into the economy for the period dropped to $83.71 billion from $99.44 billion, while outflows eased to $35.65 billion from $40.61 billion year-on-year.
Brandspur Banking News Desk reports that inflows via the CBN fell 30 per cent YoY to $28.72 billion, while autonomous sources contributed $54.99 billion, a 6.8 per cent decrease compared with the prior year. On the outflow side, CBN-managed outflows fell by 18.8 per cent to $25.68 billion, but autonomous outflows rose 18 per cent to $9.97 billion.
Net forex flow through the CBN dropped sharply by 62 per cent YoY to $3.04 billion, while net autonomous flows declined 11.5 per cent to $45.02 billion. Remittances via International Money Transfer Operators (IMTOs), a critical component of autonomous supply, weakened, falling 15.7 per cent YoY to $3.22 billion in nine months, compared with $3.82 billion in 2024. The decline persisted across all three quarters, with Q1 down 18 per cent, Q2 down 6.5 per cent, and Q3 down 22 per cent.
Despite the year-on-year decline, Q3 2025 offered some relief, with net forex inflow rising 20 per cent quarter-on-quarter to $17.46 billion from $14.46 billion in Q2. Aggregate inflows in Q3 declined slightly by 4.17 per cent to $26.27 billion, while outflows fell sharply by 32.01 per cent to $8.80 billion.
The CBN attributed the Q3 rebound to reduced outflows via the Bank, signalling cautious optimism as the central bank continues to manage forex liquidity amid pressures on diaspora remittances and autonomous forex channels.
