Price and exchange rate stability are key responsibilities the Central Bank of Nigeria CBN continues to entrench in the Nigeria macroeconomic environment. Sustaining these roles takes a lot of policy implementation ensuring that domestic and foreign investors interest in the economy continues to soar.
In recent months, analysis of FX inflows in the last few months showed that Nigeria attracted nearly 6 billion monthly inflows from May 2025 till date. Industry report showed that Nigerias foreign exchange market witnessed a significant boost in May, with total inflows rising by 62.0 per cent monthon- month M-o-M to 5.96 billion, driven largely by increased participation from domestic and foreign investors.
This marked one of the highest inflow levels in recent months and signals improving market sentiment amid macroeconomic reforms and a relatively stable naira. The naira closed the week at N1,570/ at the parallel market, and N1,536/ at the official market, creating a rate gap of N34/. In an emailed note to investors, analysts at Financial Derivatives Company Limited attributed rising FX inflows to surge in oil prices and multiple inflow channels created by the Central Bank of Nigeria.
The Central Bank of Nigeria CBN has in recent months, activated multiple FX sources to increase dollar inflows, boost dollar access to manufacturers and retail end users and support naira recovery across markets. From moves to improve diaspora remittances through new product development, the granting licenses to new International Money Transfer Operators IMTOs, implementing a willing buyerwilling seller FX model, and enabling timely access to naira liquidity for IMTOs, the apex bank has simplified dollarinflow channels for authorized dealers and other players in the value chain. Given that FX inflows to the economy are strategic in achieving monetary and fiscal policy stability, the CBN under its Governor, Olayemi Cardoso puts in a lot of effort in attracting more inflows into the economy.