Domestic Forex Inflows Surge 148% In October

Domestic foreign exchange inflows into the Nigerian Foreign Exchange Market (NFEM) surged by 148.1 per cent to $5.11 billion in October 2026, driving a 61.7 per cent increase in total market inflows to $8.28 billion.
Data from FMDQ showed that total inflows rose from $5.12 billion recorded in September to $8.28 billion in October, reflecting stronger contributions from domestic sources, which accounted for 61.7 per cent of total inflows during the period.
Foreign sources contributed the remaining 38.3 per cent, with gross foreign exchange inflows increasing marginally by 3.5 per cent to $3.17 billion, compared with $3.06 billion in the preceding month.
The sharp increase in domestic...