Nigeria’s net foreign exchange (FX) flow stood at US$4.94 billion in March 2026, representing a 38% increase compared with the US$3.58 billion recorded in March 2025.
The latest figure was contained in the Central Bank of Nigeria’s (CBN) Q1 2026 Statistical Bulletin, which showed that net FX flow declined on a month-on-month basis despite the stronger year-on-year performance.
Net FX flow fell from US$6.98 billion in February 2026 to US$4.94 billion in March, representing a monthly decline of approximately 29%.
What you should know
Net foreign exchange flow measures the difference between the amount of foreign currency entering and leaving an economy or financial system over a given period.
A positive net FX flow indicates that foreign exchange inflows exceeded outflows during the period.
The March data therefore shows that Nigeria recorded a positive net FX position despite the significant moderation from February.
What the data is saying
Net FX flow reaches $4.94 billion
Nigeria recorded US$4.94 billion in net foreign exchange flow in March 2026.
The figure represents a significant improvement compared with the same month of 2025, when net FX flow stood at US$3.58 billion.
38% increase year-on-year
The March 2026 figure represents a 38% year-on-year increase, indicating stronger net foreign exchange flows compared with March last year.
The improvement came despite the month-on-month decline recorded during the period.
29% monthly decline
Net FX flow fell from US$6.98 billion in February to US$4.94 billion in March.
This represents a decline of approximately US$2.04 billion, or about 29%, during the month.
Positive FX position maintained
Despite the monthly decline, Nigeria maintained a positive net FX flow in March, meaning foreign currency inflows continued to exceed outflows.
The data provides an indication of the level of foreign exchange moving through the Nigerian economy and offers insight into the country’s external liquidity conditions.
