Nigeria recorded foreign exchange inflows of $109.86 billion in 2025, according to data from the Central Bank of Nigeria (CBN).
The central bank also reported that currency in circulation rose to N5.73 trillion, marking a notable increase from the N5.52 trillion level recorded in June 2026.
The surge in FX inflows underscores the impact of the central bank's efforts to stabilize the naira and attract foreign capital.
The substantial volume of incoming dollars suggests improved confidence in Nigeria's external sector, driven by higher oil revenues and remittances.
However, the rise in currency in circulation presents a mixed signal.
While the June 2026 data showed a decline in physical cash as part of the CBN's strategy to manage monetization and reduce liquidity pressures, the subsequent increase to N5.73 trillion indicates a renewed demand for physical naira.