The Central Bank of Nigeria has said 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.