Central Bank of Nigeria (CBN) has reported a significant surge of $2.3 billion in foreign portfolio inflow into the nation during the first two months of 2024.
Gatekeepers News reports that this is a significant increase compared to the $3.9 billion recorded in the same period last year.
Hakama Sidi Ali, the Acting Director of Corporate Communications at CBN, revealed this information on Thursday. She added that foreign investors purchased over $1 billion worth of Nigerian assets in February 2024 alone.
The increased interest of foreign investors in Nigeria has led to a total portfolio flow of $2.3 billion this year.
Additionally, the apex bank reported that diaspora remittances also surged by 443% to $1.3 billion in February, and the apex bank reported that diaspora remittances also surged by 443% to $1.3 billion in February.
“Foreign investors purchased more than US$1 billion of Nigerian assets last month, with total portfolio flows of at least US$2.3 billion recorded thus far in 2024 compared to US$ 3.9 billion seen in total for last year,” she stated.
