The Central Bank of Nigeria has disclosed that capital importation into the country fell by 32 per cent to $500m in October 2021, from $660m recorded in September.

The CBN disclosed these figures in its latest monthly economic report (October) recently released on the bank’s official website.

The decline is a negative turnaround from the increase recorded in September when capital inflow rose by $220m from $440m in August.

The report also shows that there is a corresponding decline in investment inflows from the United Kingdom, South Africa and other countries leading the pack in capital importation into Nigeria.

A breakdown of the inflows recorded in October shows that foreign portfolio investments dominated capital importation with a value of $330m.

The CBN said, “New capital importation decreased by 32.0 per cent to US$0.50bn in October 2021, from US$0.66bn in September 2021.

“Disaggregation of capital importation by type of investment shows that foreign portfolio investment inflow (mainly money market instruments), at US$0.33bn, decreased by 34.0 per cent, relative to the US$0.50bn in September 2021.

https://punchng.com/foreign-inflows-fall-by-32-uk-south-africa-others-slash-nigeria-investments/?

So what does it mean

Covid

The reason is the Covid pandemic. If you only know the devastation this pandemic has caused.

xelly:


The Central Bank of Nigeria has disclosed that capital importation into the country fell by 32 per cent to $500m in October 2021, from $660m recorded in September.

But a decrease from $660M to $500M is not 32% but about 24%.

Great2017:

But a decrease from $660M to $500M is not 32% but about 24%.

How did you calculate yours to get 24% ?

xelly:


How did you calculate yours to get 24% ?

32% of $660M subtracted from $660M is not $500M but about 24% of $660M subtracted from $660M is about $500M. You can work that out yourself. Furthermore, I don't want to believe that those erroneous figures came from CBN.

Great2017:

32% of $660M subtracted from $660M is not $500M but about 24% of $660M subtracted from $660M is about $500M. You can work that out yourself. Furthermore, I don't want to believe that those erroneous figures came from CBN.

660-500=160

160/500=0.32
0.32*100= 32%

xelly:


660-500=160

160/500=0.32
0.32*100= 32%

It should be:
160/660 = 0.2424... ( $660M was the initial or
original quantity)
0.2424...* 100 = 24.24%
Check:
24.24% decrease from $660M is $500M
32% decrease from $660M is $448.8M and not
$500M

Great2017:


It should be:
160/660 = 0.2424... ( $660M was the initial or
original quantity)
0.2424...* 100 = 24.24%
Check:
24.24% decrease from $660M is $500M
32% decrease from $660M is never $500M

No need talking. provided you are happy with what you believe.

xelly:


No need talking. provided you are happy with what you believe.

It is not about what I believe but about what is right. It will be very disappointing if those computation came from CBN.

Great2017:

It is not about what I believe but about what is right. It will be very disappointing if those computation came from CBN.

You are wrong bro. check your calculations.

xelly:


You are wrong bro. check your calculations.

How?

24.24% decrease in 660M will amount to

(100% - 24.24%) * 660M
= 75.76% * 660M
= (75.76/100) * 660M
= 0.7576 * 660M
= 500M

Show me how 32% decrease in 660M will amount to 500M