Saturday, 18 August 2018 06:31

Nigeria’s foreign exchange inflow hits $91bn in 2017 – CBN report

Rate this item
(0 votes)
The Central Bank of Nigeria (CBN), says the aggregate foreign exchange inflow into the country stood at $91 billion in 2017.

The bank disclosed in its 2017 annual report released on Thursday that the figure was an increase of 45 per cent from $62.75 billion in 2016.

The bank also said the figure surpassed the total outflow by $57.32 billion in the period.

According to the bank, inflow through the CBN was $42.17 billion, while inflow through autonomous sources amounted to $48.33 billion.

In percentage terms, inflow through the CBN accounted for 46.3 per cent, while autonomous sources took 53.7 per cent.

Also, aggregate foreign exchange outflow, from the economy, increased by 31.8 per cent to $33.68 billion, higher than the $25.55 billion in 2016.

The report said the outflow through the CBN accounted for 90.7 per cent, about $30.55 billion. It was $23.16 billion in 2016.

Outflow via autonomous sources was calculated at $3.13 billion

The increase was attributed to the increased intervention by the CBN in the inter-bank and Bureau De Change (BDC) segments of the foreign exchange market.

NAN

January 09, 2025

This is the ‘biggest barrier to building wealth,’ says behavioral finance expert

I’ve been meaning to sell some company stock and diversify into another investment for awhile…
January 11, 2025

Ohanaeze Ndigbo gets new President-General

John Azuta-Mbata, a former senator, has been elected as the new president-general of Ohanaeze Ndigbo,…
January 12, 2025

Why some animals appear to mourn their dead

Grief has long thought to be a human trait, but other animals – from killer…
January 04, 2025

Shy man cuts off 4 fingers instead of telling boss he wanted to quit his…

A 32-year-old Indian man admitted to cutting off four fingers on his left hand to…
January 12, 2025

Lakurawa terrorists kill telecom officials in Kebbi

Suspected terrorists belonging to the Lakurawa group have killed four individuals, including three staff of…
January 12, 2025

Here’s the latest as Israel-Hamas war enters Day 464

Four Israeli troops killed in northern Gaza, army says Four Israeli troops were killed during…
December 25, 2024

Stem cell therapy to correct heart failure in children could 'transform lives'

Renowned visionary English physician William Harvey wrote in 1651 about how our blood contains all…
January 08, 2025

NFF appoints new Super Eagles head coach

The Nigeria Football Federation (NFF) has appointed Éric Sékou Chelle as the new Head Coach…

NEWSSCROLL TEAM: 'Sina Kawonise: Publisher/Editor-in-Chief; Prof Wale Are Olaitan: Editorial Consultant; Femi Kawonise: Head, Production & Administration; Afolabi Ajibola: IT Manager;
Contact Us: [email protected] Tel/WhatsApp: +234 811 395 4049

Copyright © 2015 - 2025 NewsScroll. All rights reserved.