Net foreign currency inflows into the Nigerian economy grew by 67.8% to $27.6 billion in the first half of 2024 (S1'24), up from $16.44 billion in the corresponding period of 2023.

This is due to a 34.6% year-on-year increase in net inflows through standalone sources and a 170% year-on-year increase in net foreign exchange inflows through the Central Bank of Nigeria.

Data from CBN's quarterly economic statistics showed that currency inflows into the economy grew by 41.6% year-on-year, reaching $47.73 billion in the first half of 2024, up from $33.7 billion in the first half of 2023. In addition, gross inflows through standalone sources increased by 47.6% year-on-year, to $31.15 billion in the first half of 2024, compared to $21.16 billion in the first half of