FX RATES
FX RATES

Foreign-owned banks in Nigeria received 73% of capital inflow in 2020 – NBS Report

The Capital importation report for Q4 2020 released by the National Bureau of Statistics (NBS) shows that the foreign-owned banks in Nigeria received the sum of $7.04billion out of the $9.68billion in 2020, representing 73%.

Standard Chartered Bank (SCB) tops the list with $2.54 billion, followed by Stanbic IBTC $2.17 billion, Citibank $1.51 billion and Rand Merchant Bank $822 million.

It is worthy to note that in 2019 the same 4 foreign-owned banks also dominated and received as much as $16.66 billion out of the $23.98billion capital inflows for the year, representing 69%.

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