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Nigeria: Imported capital drops 24% m/m to USD 662mn in March

  • M/M drop in March driven by slowing portfolio inflows into money market instruments, loans
  • March saw strong inflow of USD 111mn into local bonds
  • Global uncertainty and Nigeria's vulnerability to external shocks have kept foreign investors away since March 2020
  • In Jan-Mar, imported capital slumped to USD 1.9bn from USD 5.9bn one year earlier

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