Foreign exchange spending in Nigeria rose 78.1% from a year earlier to $7.61bn in June 2026, the highest monthly total in a series that starts in April 2022, according to the Central Bank of Nigeria's (CBN) second-quarter statistical bulletin, as reported by Nairametrics. Payments for services and other invisible transactions took $5.63bn, while imports of goods took $1.98bn, the data showed.
Analysis: Services accounted for about 96% of the $3.34bn year-on-year increase in foreign-exchange payments, by our calculation. Spending on goods imports rose only 7.6%. Payments classified as financial services doubled to $3.50bn, but the central bank did not provide a breakdown of the category, which can include different investment and financing transactions. The figures point to stronger demand for foreign exchange outside merchandise imports, without identifying all the underlying transactions. The CBN's third-quarter bulletin may show whether the pattern continued, although the bank has not announced a publication date.
Source: Nairametrics, CBN Quarterly Statistical Bulletin Q2 2026 (FX utilisation tables), as reported by Nairametrics, October 26, 2026, June 2026 and June 2025