Capital inflow into the country fell from $620m in July to $440m in August over the resurgence of the COVID-19 pandemic.
The Central Bank of Nigeria stated this in its monthly economic report for August titled, ‘Foreign capital inflow moderated in August 2021 due to weakening risk sentiments that followed the COVID-19 resurgence’.
It stated that, “Foreign capital inflow moderated in August 2021 due to weakening risk sentiments that followed the COVID-19 resurgence.
“New capital imported into the domestic economy decreased by 29.0 per cent to $0.44bn, compared with the $0.62bn recorded in July.
“A disaggregation of capital imported by type of investment indicated that foreign portfolio investment inflow (mainly money market instruments), at $0.24bn, accounted for 53.8 per cent of the total.
“The inflow of other investments, mainly loans, was $0.16bn, constituting 36.9 per cent of the total.
“Foreign direct investment, at $0.04bn, constituted the balance of 9.3 per cent.”