Nigeria’s foreign exchange market recorded a significant improvement in January 2026, with net foreign exchange inflows tripling to $9.22 billion as a stronger dollar supply, lower outflows and increased market activity supported the naira and boosted external reserves.
Data from the Central Bank of Nigeria (CBN) showed that aggregate foreign exchange inflows rose by 45.24 per cent, to $12.23 billion in January from $8.42 billion in December 2025, while total outflows declined, resulting in a net inflow of $9.22 billion compared with $3.11 billion in the previous month.
The increase was driven by both official and autonomous sources. Foreign exchange inflow through the CBN rose to $4.66 billion from $3.69 billion in December, while autonomous inflows climbed to $7.57 billion from $4.73 billion.
At the same time, foreign exchange outflows moderated across both channels. Outflows through the CBN declined to $1.57 billion from $3.04 billion in December, while autonomous outflows fell to $1.44 billion from $2.28 billion.
As a result, the apex bank recorded a net inflow of $3.09 billion, significantly higher than the $660 million recorded in the preceding month. Net inflows through autonomous sources also increased sharply to $6.14 billion from $2.45 billion in December.
