Hot money mirage hides cold realities as Lagos dances to a carry trade tune - Businessday NG

Banking sector records $7.55bn fresh capital inflows

Nigeria recorded $10.37bn capital importation Q1 2026 (+83.8% YoY); banking sector captured 72.8% via improved FX and yields. Inflows remain short-term financial-market-driven, not productive infrastructure—fragile cycles dependent on FX policy rather than durable growth.