Foreign currency inflows into Nigeria rose sharply in October 2025, reaching $5.15 billion — the highest in five months — as renewed investor confidence spurred capital movement into the economy, data from FMDQ revealed.
The October figure represented a 62.2% increase compared to September’s $3.18 billion inflow, underscoring growing foreign participation in Nigeria’s financial markets, particularly through the Central Bank of Nigeria’s (CBN) Open Market Operations (OMO) auctions.
MarketForces Africa reported that the apex bank conducted six OMO auctions during the month, raising over ₦7 trillion from both local deposit money banks and foreign investors.
Analysts said elevated yields on OMO instruments continued to attract offshore investors, strengthening U.S. dollar inflows and boosting the naira’s stability in the FX market.
Cordros Securities Limited, in a market note, explained that the increase in inflows reflected improved sentiment among both domestic and foreign investors amid expectations of monetary policy easing across global markets.
Foreign inflows accounted for 64.5% of total receipts, surging 89.7% month-on-month to $3.32 billion, driven by a rebound in Foreign Portfolio Investments (FPIs) — up 120.7% — and higher inflows from corporate entities.
Meanwhile, domestic inflows expanded 28.4% due to a sharp 370.6% jump in individual contributions and a 30.8% rise from other corporates. Exporters’ inflows also climbed 7.2%, though CBN inflows fell by 59.6% due to reduced intervention.
Cordros projected that total FX inflows will remain robust in the near term, supported by attractive carry-trade opportunities and sustained investor confidence in Nigeria’s improving market outlook.
