Nigeria's forex inflow increases as remittances quadruple to $1.3 billion

Acting Director, Corporate Communications Department of the CBN, Hakama Sidi, said this in a statement on Friday in Abuja.

Sidi said that the upsurge in forex inflow was recorded with marked increments in remittance payments by Nigerians overseas and purchases of naira assets by foreign portfolio investors.

According to her, the apex bank’s data indicates that overseas remittances rose to 1.3 billion dollars in February, more than four times the 300 million dollars received in January.

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