Nigeria has recorded US$20.98 billion in foreign exchange inflows during the first ten months of 2025, reflecting a remarkable recovery in investor confidence, the Central Bank of Nigeria (CBN) has announced.

CBN Governor Olayemi Cardoso stated that the inflows represent a 70% increase from 2024 and a 428% rise compared with 2023, signaling renewed trust in the country’s economic policies.

The surge in foreign exchange is credited to key reforms by the CBN, including the unification of foreign-exchange windows, the rollout of the Electronic Foreign Exchange Management System (EFEMS), and the implementation of a revised FX code. Cardoso emphasized that the inflows are indicative of Nigeria’s economy stabilizing organically, supported by stronger exports, rising non-oil earnings, and capital inflows rather than external borrowing.

Nigeria’s foreign reserves rose to US$46.7 billion by mid-November, the highest in nearly seven years, providing more than ten months of import cover. Analysts note that these developments have helped stabilise the naira and narrow the gap between official and parallel exchange rates.

The banking sector is also benefiting from reforms, with 27 banks raising capital and new credit-risk frameworks improving governance and transparency, further strengthening investor confidence.

Cardoso’s announcement reflects a broader trend of economic resilience, suggesting that Nigeria is on a path toward macroeconomic stability and sustainable growth beyond oil, driven by both policy reforms and market confidence. Visit www.jocomms.com for more news.