Nigeria’s Dollar Flow Hit $91 Billion In 2017 – CBN
The total amount of foreign exchange that flowed into Nigeria in 2017 stood at $91 billion, according to the Central Bank of Nigeria, CBN.
The bank disclosed in its 2017 annual report released on Thursday that the figure was an increase of 45% 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%, while autonomous sources took 53.7%.
Also, the total sum of foreign exchange that was taken out of the Nigerian economy, that is foreign exchange outflow, increased by 31.8% to U$33.68 billion, higher than the $25.55 billion in 2016.
The report said the outflow through the CBN accounted for 90.7%, 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 segments of the foreign exchange market.
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