The Central Bank of Nigeria (CBN), on Thursday reported that the aggregate foreign exchange inflow into the country stood at $91 billion last year.
The apex bank’s disclosure on the Forex inflows in 2017 was contained in its annual report, which indicated that the value of inflows amounted to 45 percent improvement over the $62.75 billion recorded in 2016.
It reported that when analysed based on Forex inflow-outflow basis, the $91 billion inflow was higher by $57.32 billion to the outflow in 2017.
A further analysis of the inflow based on channels used showed that while inflow through the CBN stood at $42.17 billion, representing 46.3 percent of the volume during the year under review, inflow through autonomous sources amounted to $48.33 billion or 53.7 per cent.
According to the report, aggregate foreign exchange outflow from the economy in 2017 to U$33.68 billion or increased by 31.8 percent, a figure that was higher than the $25.55 billion recorded in the preceding year. Of the total outflow, CBN accounted for about $30.55 billion, representing 90.7 percent of the outflow.
The report reflected that Forex outflow through autonomous sources stood at $3.13 billion
The apex bank attributed the increase to its improved intervention in the inter-bank and Bureau De Change (BDC) segments of the foreign exchange market during the year in review.
