Business Nigeria’s Foreign Exchange Earnings Hit $24Bn In Q3 2016



President Muhamamdu Buhari-led federal government aggregate foreign exchange (forex) inflow as at the third quarter of 2016 moved up remarkably to $24 billion.

Dr. Doyin Salami, a member of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) revealed

This represents an increase by $8.67 billion when compared with the aggregate forex inflow into the economy of $15.33 billion recorded by the country in the second quarter of 2016, as indicated in the CBN’s economic report.


Salami stated this when he spoke on the outlook of the Nigerian economy in 2017, at the Redeemed Christian Church of God, King’s Court Parish, Victoria Island, Lagos, over the weekend, pointed out that the aforementioned amount of forex inflow recorded in the third quarter of last year was paltry, compared with an aggregate of $97 billion earned by the country in 2014.

He urged the federal government to restore confidence in the economy.

Source: ThisDay