Nigeria’s net foreign exchange (FX) flow fell by 29 per cent month-on-month to $4.94 billion in March 2026, according to data from the Central Bank of Nigeria (CBN).
The figure, contained in the CBN’s first-quarter 2026 Statistical Bulletin, declined from $6.98 billion recorded in February.
Despite the monthly drop, the March figure was 38 per cent higher than the $3.58 billion recorded in the corresponding month of 2025.
The latest net flow was also the lowest recorded since December 2025, when Nigeria posted $4.49 billion.
The CBN data showed that total FX inflows into the Nigerian economy stood at $10.49 billion in March, while outflows rose to $5.54 billion, leaving a net flow of $4.94 billion.
FX inflows had stood at $12.41 billion in January and $9.49 billion in February.
However, outflows increased significantly, rising from $2.50 billion in February to $5.54 billion in March.
The data further showed a divergence between flows through the CBN and autonomous sources.
Net FX flow through the CBN turned negative at $1.66 billion in March, compared with positive flows of $3.09 billion in January and $1.34 billion in February.
In contrast, net FX flow through autonomous sources increased to $6.60 billion in March from $5.64 billion in February.
The CBN did not provide an explanation for the monthly decline in overall net FX flow.
The March 2026 development comes against the backdrop of Nigeria’s broader efforts to stabilise the foreign exchange market and improve transparency in FX transactions.
The latest figures indicate that although Nigeria’s foreign exchange position remained stronger than a year earlier, the country experienced a notable monthly increase in FX outflows in March, which significantly reduced the net flow during the period.
Earlier CBN data showed that Nigeria recorded total FX inflows of $109.86 billion in 2025, up 13.81 per cent from $96.53 billion in 2024. Aggregate FX outflows also increased during the year.
