The Central Bank of Nigeria (CBN) has stated that Nigeria’s foreign exchange (FX) market recorded 56.4 per cent increase in monthly turnover, rising to $8.6 billion in 2025 from $5.5 billion in 2024.
CBN deputy governor for Economic Policy, Mohammed Abdullahi, disclosed this while speaking at the Nigeria Investors Forum held alongside the IMF/World Bank Annual Meetings.
According to him, the surge reflects the impact of sweeping monetary and fiscal reforms aimed at boosting liquidity, enhancing transparency, and strengthening investor confidence.
He pointed out the government’s strategic efforts to improve FX inflows and clear longstanding obligations, saying that “monthly turnover in the forex market had risen by 56.4% to 8.6 billion dollars in 2025, up from 5.5 billion dollars in 2024”.
Continuing, Abdullahi said “Over the last two years, we have focused a lot on improving FX inflow into the economy, and we have seen a significant jump. Average net flows between January 2023 and July have doubled.”
The CBN deputy governor also disclosed that the CBN had adopted an order-based quotation system and implemented reforms around remittances to deepen market efficiency.
He said as a result, Nigeria’s gross reserves reached a five-year high of $43.4 billion in October, enough to cover 11 months of imports.
“Between 2024 and 2025, we released almost $13 billion back to local and international banks in a way that allows for organic growth of our reserves,” Abdullahi added.
CBN governor, Olayemi Cardoso, assured foreign investors that Nigeria remains committed to stabilizing its financial system and fostering a more conducive investment climate.
“The CBN and the Ministry of Finance have been working hand in hand to ensure alignment, stability and clarity for investors,” Cardoso said.
He emphasised that the rise in external reserves signals improved resilience and reflects the steady rebuilding of trust in Nigeria’s economic model.
“Nigeria’s focus remains clear: strengthening our fundamentals, advancing reforms, and unlocking opportunities for sustainable investment and growth,” he stated.
Cardoso reiterated that the coordinated approach between fiscal and monetary authorities is positioning Nigeria as one of Africa’s most attractive destinations for long-term investment.
