Forex Flow To Nigeria Rise By $10.75bn.

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Nigeria has recorded $10.75bn foreign exchange inflow in two months, figures obtained from the Central Bank of Nigeria have revealed.

The CBN revealed in its monthly economic report on ‘Foreign exchange flows through the economy.
According to the report, autonomous inflow also increased by 47.0% to $3.83bn from $2.61bn. Due to a rise in invisible purchases (ordinary domiciliary accounts and total Over-the-Counter purchases).
Foreign exchange outflow through the CBN declined by 12.0%t to $2.29bn, from $2.6bn in January; due, largely, to decreases in foreign exchange sales at the Investors and export, Small and Medium Enterprises intervention and interbank/invisible foreign exchange windows.

The CBN Governor, Godwin Emefiele, had earlier announced the RT200 FX Programme; to boost forex supply in the country through the non-oil sector in the next three to five years.

He explained that the RT200 FX Programme was a set of policies, plans and programmes for non-oil exports that would enable the country attain $200bn goal in FX repatriation, exclusively from non-oil exports.
-Punch.

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