Nigeria’s banking sector saw a remarkable surge in capital importation during the first quarter of 2025, drawing in a total of $5.64 billion. This figure reflects a 67.12% increase compared to the $3.38 billion recorded in the same period in 2024, signaling growing investor confidence in the country’s financial ecosystem.
The banking sector alone accounted for $3.13 billion, or 55.44% of the total foreign capital inflows into Nigeria. At the forefront of this inflow was Standard Chartered Bank Nigeria Limited, which attracted $2.10 billion, followed by Stanbic IBTC Bank Plc with $1.40 billion and Citibank Nigeria Limited pulling in $1.05 billion. Collectively, these three banks represented a significant portion of the total capital imported by Nigerian banks in the quarter.
Other leading banks included Rand Merchant Bank at $387.32 million, Access Bank Plc with $377.32 million, and smaller amounts from FSDH Merchant Bank, Titan Trust Bank, United Bank for Africa, First City Monument Bank, and Sterling Bank, rounding out the top ten in capital importation.
The inflows were concentrated primarily in Abuja (FCT), which received $3.05 billion (54.11%), surpassing Lagos, which garnered $2.56 billion (45.44%). This indicates a potential shift in foreign investment focus towards the nation’s capital.
In terms of origin, the United Kingdom was the dominant source of foreign capital, contributing $3.68 billion (65.26%) of the total. Other notable contributors were South Africa and Mauritius, highlighting Nigeria’s strong financial ties with these countries and underscoring the role of international banking networks in channeling investments into Nigeria.
The substantial increase in capital inflows into Nigerian banks underscores the sector’s resilience and appeal amid a challenging economic backdrop, positioning Nigeria as a crucial hub for foreign investment in Africa.
Top 10 banks by capital importation in Q1 2025 (USD):
- Standard Chartered Bank Nigeria Ltd — $2.10bn
- Stanbic IBTC Bank Plc — $1.40bn
- Citibank Nigeria Limited — $1.05bn
- Rand Merchant Bank — $387.32m
- Access Bank Plc — $377.32m
- FSDH Merchant Bank Limited — $122.96m
- Titan Trust Bank Limited — $115.20m
- United Bank for Africa Plc — $34.60m
- First City Monument Bank Plc — $23.20m
- Sterling Bank Plc — $7.13m
This data was sourced from the National Bureau of Statistics (NBS) Q1 2025 capital importation report.
