Ifeanyi Onuba, AbujaBetween January and September last year, a total foreign exchange inflow of $40.93bn was recorded by the Central Bank of Nigeria. The inflow of $40.93bn, when compared with the $27.95bn recorded in the first nine months of 2017, represents an increase of $12.98bn. In the second quarter of last year, the CBN recorded foreign exchange inflow of $13.82bn, while the sum of $12.95bn was recorded during the third quarter of 2018. It read in part, “Aggregate foreign exchange inflow through the CBN amounted to $12.95bn, indicating a 6.3 per cent decline below the level at end-June 2018. Finance and economic experts, who spoke on the foreign exchange inflow, explained that the demand management policy of the Federal Government was responsible for the inflows.

Source: Punch January 30, 2019 23:03 UTC