Recently released data from the National Bureau of Statistics (NBS) showed that Nigeria’s capital importation rose by 97.73% quarter-on-quarter (and increased on a yearly basis by 18.47%) to USD1.73 billion in Q3 2021. Capital inflow into Nigeria in Q3 2021 outweighed what was recorded in Q3 2020 given the sit-at-home order enforced in 2020 by […]
Stanbic IBTC Bank, Standard Chartered Bank Nigeria, and Citibank Nigeria Limited lead as capital importation from banks hit $38.18bn in almost three years. Between January 2019 and September 2021 (33 months), the total capital importation by banks amounted to $38.18bn. According to a National Bureau of Statistics report, banks imported the most capital in 2019 […]
President Muhammadu Buhari Tuesday in Abuja endorsed the establishment of the Nigerian Diaspora Investment Trust Fund (NDITF), a private sector investment window with Nigerians in the Diaspora to support direct investments in the country. Speaking at the presentation of a compendium entitled +600 Diaspora Icons @ 60, published by the Nigerians in Diaspora Commission (NiDCOM), […]
The CBN’s latest Quarterly Statistical Bulletin (QSB) for Q3 ’21 shows that total fx inflow into the Nigerian economy improved markedly to USD30.2bn from USD18.4bn in the preceding quarter. Total fx inflows were also up by +14% y/y. The fx inflow in Q3 is the highest quarterly inflow since Q1 ’20 when the economy recorded […]