Journal

Nigeria’s FX Market Update Q3,2025

FMDA February 6, 2026 Journal

The Nigeria FX Market Update for Q3 2025, prepared from the Central Bank of Nigeria’s latest Statistical Bulletin.

Summary Key Highlights

Total FX inflows stood at US$27.09 billion in Q3 2025, only marginally lower than Q2 levels. This shows that FX supply remained broadly resilient, even as market pressures eased.
CBN FX sales to I&E, SME, Invisibles declined by 41.96% q/q to US$1.84bn
CBN FX sales declined in Q3 2025 as FX pressures eased materially, driven by a sharp compression in outflows, continued dominance of autonomous FX inflows, and softer import-related demand, particularly from the industrial and oil sectors.
In addition, moderation in financial-services FX demand reduced volatility, allowing the CBN to shift from active market supply to net FX absorption and reduce gross sales without destabilising liquidity.

Please download the full report here.

FMDA