Nigeria’s FX Market Update – Q2 2026

The Nigeria’s FX Market Update – Q2 2026

Summary Key Highlights

CBN FX sales fell 66.73% q/q to $418.08 million in Q2 2026, the lowest quarterly level since Q4 2024. Sales for H1 2026 totalled $1.67 billion, down 69.03% y/y and the lowest first-half total since at least 2008.

Total FX inflows eased 2.96% q/q to $31.43 billion but were 14.04% higher y/y. CBN inflows fell 20.44% q/q, while autonomous inflows rose to US$23.31 billion, the highest since Q1 2020, lifting their share of total inflows to 74.15%, the highest in 13 years. With CBN outflows down 35.89% q/q, net flow through the economy rose to US$22.50 billion, the highest since Q4 2019. H1 net flow of $43.84 billion (+47.24% y/y) was the strongest first half since 2014.

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