Nigeria’s foreign exchange reforms are profoundly influencing investor sentiment, attracting approximately $20.98 billion in capital inflows within just ten months. This substantial surge signals a robust renewal of confidence in the nation’s economic stability and future prospects.
The Central Bank of Nigeria’s reforms have transformed the foreign exchange market, drawing $20.98 billion in foreign capital during 2025’s first ten months. This marks a 70% rise from 2024 and a 428% increase over 2023’s $3.9 billion. CBN Governor Olayemi Cardoso attributes this growth to a resurgence in investor confidence.
The consistent increase in forex inflows underscores Nigeria’s financial sector stability and growing investor interest. Domestic and global investors are showing a heightened appetite for Nigerian assets, a trend clearly reflected in recent capital inflow data. These positive developments are directly linked to the comprehensive reforms implemented by the CBN under Governor Cardoso.