Nigeria’s foreign exchange inflows climbed 13.8 per cent to a record $109.86 billion in 2025, driven by stronger autonomous inflows from non-oil exports, capital importation and over-the-counter (OTC) purchases, according to the Central Bank of Nigeria (CBN).
The figures, contained in the apex bank’s 2025 Annual Report and Statement of Accounts, showed aggregate FX inflows increased from $96.53 billion in 2024 to $109.86 billion in 2025.
Foreign exchange outflows also rose by 27.83 per cent to $49.05 billion, up from $38.37 billion recorded a year earlier. Despite the increase, Nigeria posted a stronger net FX inflow of $60.81 billion, compared with $58.16 billion in 2024.
The CBN said the improvement was largely driven by autonomous inflows, which accounted for 64.21 per cent of total foreign exchange inflows.
“The economy recorded an increase in net foreign exchange inflow, driven by autonomous inflows in the review period,” the report stated.
According to the report, FX inflows through autonomous sources rose 25.12 per cent to $70.54 billion from $56.38 billion, supported mainly by higher non-oil export earnings, capital importation and OTC purchases.
Meanwhile, inflows through the CBN declined by 2.08 per cent to $39.32 billion, representing 35.8 per cent of total inflows, largely due to lower receipts from government debt and foreign exchange swaps.
On the outflow side, transactions through the CBN increased slightly by 1.74 per cent to $32.79 billion, while autonomous outflows surged 164.84 per cent to $16.26 billion.
The report also highlighted continued growth in Nigeria’s digital payments ecosystem.
The value of electronic payment transactions rose 26.07 per cent to N3.46 quadrillion in 2025, while transaction volume increased 2.62 per cent to 47.88 billion.
The apex bank attributed the growth to increased adoption of digital payment channels, expansion of e-commerce, improved payment infrastructure and changing consumer preferences.
ATM transactions recorded the fastest growth, rising 61.94 per cent to 1.66 billion transactions. USSD transactions increased 20.89 per cent to 669.55 million, while Point-of-Sale (PoS) transactions grew 19.78 per cent to 15.66 billion.
However, transaction volumes through mobile apps, internet banking and direct debit channels declined during the period.
The report also showed significant improvements in payment security.
Electronic fraud losses fell by 50.5 per cent to N25.85 billion in 2025 from N52.26 billion in the previous year.
According to the CBN, the decline reflected stronger fraud monitoring systems, tighter controls and improved integration of the Bank Verification Number (BVN) with the National Identification Number (NIN).
BVN enrolment increased to 67.82 million, up from 64.40 million in 2024, while the number of bank accounts linked to BVN rose sharply to 368.92 million, compared with 297.29 million a year earlier.
Active bank accounts also increased to 339.26 million from 311.60 million, while fraud-related BVNs placed on the watch-list rose to 13,117 from 9,476.
The report further showed strong growth in cross-border payments through the Pan-African Payment and Settlement System (PAPSS).
The value of transactions settled by Nigerian participants increased nearly fivefold to $143.40 million in 2025 from $29.23 million in the previous year, while transaction volume climbed to 44,088 from 17,808.
The CBN said PAPSS continued to simplify cross-border payments across Africa by reducing foreign exchange conversion costs, easing pressure on FX liquidity and supporting intra-African trade and financial inclusion.
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