Despite the strong contribution from autonomous sources, total FX inflows declined by 2.96 per cent quarter-on-quarter to $31.43 billion. However, inflows remained 14.04 per cent above the level recorded in the corresponding period of 2025.
CBN-sourced inflows fell by 20.44 per cent to $8.12 billion, while the central bank’s direct FX sales to the market dropped by 66.73 per cent to $418.08 million from $1.26 billion in the first quarter of 2026.
Compared with the $3.17 billion recorded in the second quarter of 2025, direct CBN sales declined by 86.79 per cent. The association also reported that the central bank sold $1.67 billion in foreign exchange during the first half of 2026, the lowest half-year amount since its records began in 2008.
Nevertheless, Nigeria recorded net FX flows of $22.50 billion in the second quarter, the highest level since the fourth quarter of 2019.