MON MAR 16 2026-theGBJournal| Total inflows into the Nigerian Foreign Exchange Market (NFEM) surged to a four-month high, rising by 45.4% m/m to USD4.37 billion in February (January: USD3.01 billion), according to latest FMDQ data.
The outturn was driven by broad based increases across inflows from local (52.2% of total inflows) and foreign (47.8% of total inflows) sources.
Specifically, inflows from local sources rose by 87.7% m/m to USD2.28 billion (January: USD1.23 billion), reflecting increases across the CBN (+859.1% m/m), individuals (+313.6% m/m), Exporters/Importers (+34.5% m/m) and non-bank corporates (+10.2% m/m).
At the same time, inflows from foreign sources increased by 16.7% m/m to USD2.09 billion (January: USD1.79 billion), as the increase from the FPIs (+22.0% m/m) segment was enough to offset the decline in the other corporates (-25.2% m/m) and FDIs (-21.1% m/m) segments.
Specifically, increases in the equity investment (+70.3% m/m) and Fixed income (+20.7% m/m) sub-segments drove the improvement in FPI inflows.
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