URBANEXPRESSLIVEURBANEXPRESSLIVEURBANEXPRESSLIVE
  • Home
  • Politics
    Politics
    “Followers who tell the truth, and leaders who listen to it, are an unbeatable combination.”— Warren Bennis
    Show More
    Top News
    urbanexpess news
    Group Accuse Osun State Assembly of Ignoring Petitions
    September 1, 2024
    US Election: Trump  Ex-VP, CoS, NSA Others Don’t Want Him, Kamala Claims
    September 13, 2024
    Election Updates: Wards Results from Polling Units Trickle In As INEC Declares
    September 21, 2024
    Latest News
    Ardo, Atiku Opposition Coalition Seeks New Party, ADA Registration From INEC
    June 20, 2025
    Food Cost, Checkpoints, Illegal Taxes Top Discourse As Nigerian Governors Raise Alarm
    June 19, 2025
    Farotimi: Tinubu’s Administration Dangerously Discourages Free Speech
    June 19, 2025
    Why Trump Dismisses Ceasefire, Justifies Real End To Iran Nuclear Threat
    June 17, 2025
  • Entertainment
  • Urban & Rural Lifestyle
  • Column
  • Environment
  • Urban Sports
  • Crime Lence
  • More Links
    • About Us
    • Contact us
    • Advertise
Search
  • Advertise
© 2024 Urbanexpresslive. All Rights Reserved.
Reading: How Net FX Inflow Declines To $14.46Bn In Q3-CBN
Share
Notification Show More
Font ResizerAa
URBANEXPRESSLIVEURBANEXPRESSLIVE
Font ResizerAa
  • Home
  • Politics
  • Entertainment
  • Urban & Rural Lifestyle
  • Column
  • Environment
  • Urban Sports
  • Crime Lence
  • More Links
Search
  • Home
  • Politics
  • Entertainment
  • Urban & Rural Lifestyle
  • Column
  • Environment
  • Urban Sports
  • Crime Lence
  • More Links
    • About Us
    • Contact us
    • Advertise
Follow US
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
URBANEXPRESSLIVE > web-Page > Business > How Net FX Inflow Declines To $14.46Bn In Q3-CBN
Business

How Net FX Inflow Declines To $14.46Bn In Q3-CBN

urbanexpresslive
Last updated: December 23, 2024 1:09 pm
urbanexpresslive
Share
2 Min Read
SHARE

Taiwo Popoola

The net foreign exchange inflow to the Nigerian economy in the third quarter of the year dropped by 2.97 percent to $14.46 billion from $14.89 billion in the preceding quarter.

The Central Bank of Nigeria disclosed this in its third-quarter economic report published at the weekend.

According to the report, on a quarter-on-quarter basis, net foreign exchange in the third quarter decreased by 2.97 percent; however, compared to the third quarter of 2023, net foreign inflow had increased by 75.91 percent from $8.22 billion to $14.46 billion.

Meanwhile, in the quarter under review, foreign exchange inflow increased by 3.01 percent to $22.89 billion from $22.22 billion in Q2 2024. Also, inflows through official sources increased in Q3 as those of autonomous sources declined.

The report said, “Inflows through the bank rose by 39.63 percent to $11.86 billion from $8.49 billion, while autonomous sources fell by 19.66 percent to $11.03 billion from $13.72 billion in the preceding quarter.

“Foreign exchange outflow through the economy rose by 15.18 percent to $8.43 billion, relative to the level in Q2 2024. Outflows through the bank rose by 27.91 percent to $7.31 billion, while those through autonomous sources decreased by 30.06 percent to $1.12 billion.

“Consequently, net foreign exchange inflow through the economy decreased by 2.97 percent to $14.46 billion, from $14.89 billion in the preceding quarter.

“However, net inflow through autonomous sources fell to $9.90bn from $12.12bn in the preceding quarter. A net inflow of $4.55bn was recorded through the bank compared with a net outflow of $2.78bn in the preceding quarter.”

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, at the Senate Committee, revealed that diaspora remittances processed through International Money Transfer Operators between January and October 2024 reached $4.22 billion.

He attributed the surge in remittances to the impact of President Bola Ahmed Tinubu’s policies.

You Might Also Like

Benin, Togo Owe Nigeria $5.79m Energy Dept. In Q2-NERC

Tax Reform Is Now- Former Speaker Dogara, Nassarawa Gov Others Insist

Seizures Worth N28.1Bn Was Made Within Timeframe of 2024-Customs CG Adeniyi Says

NBS Hints on Imports destination For Nigeria, Names top Five Exports

ECOWAS, Ecobank Champion Alternative Energy Solutions

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
[mc4wp_form]
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
Previous Article How Trump’s Threat of Execution Forced Biden Grant 37 Death Row Inmates Clemency
Next Article Avoid Panic Buying, We Have Enough Fuel-IPMAN Tell Nigerians On Yuletide
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
136kSubscribersSubscribe
4.4kFollowersFollow
- Advertisement -
Ad imageAd image

Latest News

Cyberterrorism: How Seven Chinese Nationals Were Jailed For Internet Fraud Involvement
Crime Lence Crime Reports June 21, 2025
Club World Cup 2025: How Two teams Qualify For Round of 16
Uncategorized June 21, 2025
EPL: Aina Set To Sign New Long-term Contract At Nottingham Forest
Urban Sports June 21, 2025
Transfer: Why Ex-Golden Eaglets Captain Joins Czech Club Dukla Prague
Urban Sports June 21, 2025
Executive Master of Transport Management
//

UrbanExpressNews is Nigeria Most Reliable Online News, With Quality Pedigree of Writers made available on the online space.

Download Our App

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

info@urbanexpresslive.com

 

Follow US
© 2024 Urbanexpresslive. All Rights Reserved.
Welcome Back!

Sign in to your account