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Year-on-year, net foreign currency (forex) inflows into the economy dropped by 27% to $52.46 billion in 2021 from $70.66 billion in 2020.
Analysis of the Central Bank of Nigeria’s (CBN) fourth quarter 2021 (Q4’21) statistical bulletin, currency inflow into the economy fell 19% year-on- year to $94.3 billion in 2021 from $115.59 billion in 2020.
However, forex outflow from the economy fell by 7.3 per cent, year-on-year, to $41.62 billion in 2021 from $44.93 billion in 2020.
Source: vanguardngr.com
Stephen Ogheneochuko
Stephen Ogheneochuko is a Computer Science graduate.
He is currently in his final year studying law.
He's an avid reader and Tech enthusiast.
