* Foreign Investors’ Return

The Central Bank of Nigeria (CBN) reported a significant increase in foreign exchange inflow into the economy in February 2024, with marked increments in remittance payments by Nigerians overseas and purchases of naira assets by foreign portfolio investors.


Speaking with newsmen in Abuja, the Bank’s Acting Director of Corporate Communications, Mrs Hakama Sidi Ali, said, “The Bank’s data indicates that overseas remittances rose to US$1.3 billion in February 2024, more than four times the US$300 million received in January.

“Foreign investors purchased more than US$1 billion of Nigerian assets last month, with total portfolio flows of at least US$2.3 billion recorded thus far in 2024 compared to US$ 3.9 billion seen in total for last year,” she added.

She said higher FX inflows continued in March 2024, driven by increased investor interest in short-term sovereign debt following the recent adjustment to benchmark interest rates. She noted that Government securities issuances had been significantly oversubscribed, with foreign investors accounting for over 75% of bids received at the auctions conducted on March 1 and 6, 2024.

It will be recalled that the CBN Governor, Mr. Olayemi Cardoso set out a detailed strategy to curb inflation, stabilise the exchange rate, and spur confidence in the banking system and economy, using last month’s Monetary Policy Committee meeting and a conference call with foreign portfolio investors to set expectations for sustained increases in Nigeria’s foreign currency reserves and improved liquidity in the foreign exchange market.

“All the different measures we have taken to boost reserves and create more liquidity in the markets have started to pay off,” Governor Cardoso said.

“When people understand the real issues and see a strategy and a plan, things tend to calm down. Our objective today is to ensure that the market has supply, that the market functions, and that investors can come in and go out,” he noted.

https://leadership.ng/cbn-reports-upsurge-in-dollar-inflow/

Thank God

We have more USD inflow, yet naira value is falling

When will all these propaganda end?

socialmediaman:
We have more USD inflow, yet naira value is falling

When will all these propaganda end?

You are looking at black market.
Usd is overvalued against the naira and that's not a secret, that is why smart investors are leveraging on it till the naira is appropriately priced against the USD i.e before the discount bonanza ends. If you don't understand these things, it's in your own interest to get this data interpreted to you.

Those guys bringing in billions of dollars are not your average joe, they do their due diligence and it's not social media entertainment stuff.
God bless Nigeria for ever! Check my signature for free stuffs!

socialmediaman:
We have more USD inflow, yet naira value is falling

When will all these propaganda end?

you don't have to wail 😩 on to this kain news . As this is an official statement from the Central Bank which can be verified easily by the whole world.

No more NGN in Binance

Naira is over 1.6k

You eeeeediot

Propagandarists

FreeStuffsNG:
You are looking at black market.
Usd is overvalued against the naira and that's not a secret, that is why smart investors are leveraging on it till the naira is appropriately priced against the USD i.e before the discount bonanza ends. If you don't understand these things, it's in your own interest to get this data interpreted to you.

Those guys bringing in billions of dollars are not your average joe, they do their due diligence and it's not social media entertainment stuff.

This is the type of propaganda you people gave Nigerians for 8 years of Buhari’s disastrous government, you people have started again.

Are Nigerians going to eat propaganda?

Thank God. When competent folks are in charge, things tend to change. Nigeria will rise and thrive again.
The economy will come back stronger than ever. Unfortunately, some people will be saddened by this little ray of hope, that is their nature.


“Foreign investors purchased more than US$1 billion of Nigerian assets last month, with total portfolio flows of at least US$2.3 billion recorded thus far in 2024 compared to US$ 3.9 billion seen in total for last year,” she added.

Propaganda upon propaganda

lexylaw09:

theglittersonline.com.ngMar 7, 2024 9:44 PM

CBN Reports Upsurge In Dollar Inflow As Remittances Quadruple

* Foreign Investors’ Return

The Central Bank of Nigeria (CBN) reported a significant increase in foreign exchange inflow into the economy in February 2024, with marked increments in remittance payments by Nigerians overseas and purchases of naira assets by foreign portfolio investors.


Speaking with newsmen in Abuja, the Bank’s Acting Director of Corporate Communications, Mrs Hakama Sidi Ali, said, “The Bank’s data indicates that overseas remittances rose to US$1.3 billion in February 2024, more than four times the US$300 million received in January.

“Foreign investors purchased more than US$1 billion of Nigerian assets last month, with total portfolio flows of at least US$2.3 billion recorded thus far in 2024 compared to US$ 3.9 billion seen in total for last year,” she added.

She said higher FX inflows continued in March 2024, driven by increased investor interest in short-term sovereign debt following the recent adjustment to benchmark interest rates. She noted that Government securities issuances had been significantly oversubscribed, with foreign investors accounting for over 75% of bids received at the auctions conducted on March 1 and 6, 2024.

It will be recalled that the CBN Governor, Mr. Olayemi Cardoso set out a detailed strategy to curb inflation, stabilise the exchange rate, and spur confidence in the banking system and economy, using last month’s Monetary Policy Committee meeting and a conference call with foreign portfolio investors to set expectations for sustained increases in Nigeria’s foreign currency reserves and improved liquidity in the foreign exchange market.

“All the different measures we have taken to boost reserves and create more liquidity in the markets have started to pay off,” Governor Cardoso said.

“When people understand the real issues and see a strategy and a plan, things tend to calm down. Our objective today is to ensure that the market has supply, that the market functions, and that investors can come in and go out,” he noted.

As miracle no dey tiya Jesus na so propaganda no dey tiya apc.

Keep fooling the gullible

If I say STA-TIS
YOU SAY -TICS-

Do you see the BMC now TMC on 30k payroll, because his brain 🧠 has been bought for #30k he only thinks with his anus, anyone who has contrary opinion is igbo or paid.....

I am not igbo, I don't have voters card, I don't give a fvck about PDP, APC, LP or whatever, I am not on government payroll but this 30k paid goats 🐐 roam the Internet thinking everyone is like them, pathetic.

Tap0lane:
Can anyone notice the similarities from all this paid Igbo wailing crew over this news once their master gave the go ahead ?!


Did you see the way they were all shouting propaganda once the first Igbo clown gave the clue, that is how you know paid full head online.

The useless government is not relenting in dish out propaganda which is all they are good at and the supporters of failed government are all everywhere already

The ph refinary that will start working on February, where is it? Dangote that will flood fuel like water in Nigeria and Nigerians will stop importation of fuel, where is it?

God will help us

Na statistics we go chop?

Dollar about to go crazily up

They lack common sense, who propaganda help? Mtcheeew...

Blackfire:
Dollar about to go crazily up

From the report, it will go down.

Shamali Bullzoder

🤣🤣🤣😂😂😂

We should be seeing the impact in FX rate na...abi?

APC Tueh

lexylaw09:
* Foreign Investors’ Return

“All the different measures we have taken to boost reserves and create more liquidity in the markets have started to pay off,” Governor Cardoso said.

https://leadership.ng/cbn-reports-upsurge-in-dollar-inflow/

Meanwhile, dollar is still N1600 in the black market and N1590 in the official market.

socialmediaman:


This is the type of propaganda you people gave Nigerians for 8 years of Buhari’s disastrous government, you people have started again.

Are Nigerians going to eat propaganda?

You can eat it of you want.

malali:
The government should set up a remittance inflow mechanism whereby.
With minimal charges and payment in Naira.
Since the rate is similar to BDC.
A lot of people will prefer a government backed system instead of 3rd-4th party transactions.
Foreigner sends the money to established government portal in USA/UK.
Nigerian with verified account, receives it in Naira with exchange rate of that day.
All the Nigerians abroad will use the system and they can have access to forex.
This will make a few millions for the government from the banking sector.
But the banking sector has to be sanitized prior to these operations.

Mumu talk, I bet you have never held 100 dollars of your own. What do you expect from people who sell their senses for 30k.

The day you force people on how to convert their money is the day d abroad remittances will abandon official channels.

Overseas remittance is just about d major way Nigeria gets dollars. Your NNPC which sells oil every have refused to remit one dollar since d days of Sanusi.

FreeStuffsNG:
You are looking at black market.
Usd is overvalued against the naira and that's not a secret, that is why smart investors are leveraging on it till the naira is appropriately priced against the USD i.e before the discount bonanza ends. If you don't understand these things, it's in your own interest to get this data interpreted to you.

Those guys bringing in billions of dollars are not your average joe, they do their due diligence and it's not social media entertainment stuff.

Discount Bonanza or Premium Bonanza?
What I understood from here and there is, After Discount then to Premium.
Therefore if we're in Discount, we're going to Equilibrium filling FVG here and there, then to Premium..
Abeg come explain.

Yawn 🥱
Other patch patch CBN governor

Thank God, this is good news but I pray it's not like their usual way of dishing out lies like the Binance 10 billion dollars fines. Let the economy grow.

Let's see the effect on the exchange rate

theysg:


You can eat it of you want.

E think say na statistic propaganda we go chop

Sound familiar?