Nigeria recorded total capital inflows of $5.64 billion in Q1 2025, a 67% increase from the $3.38 billion posted in the previous quarter.
However, capital importation data from the National Bureau of Statistics (NBS) reveals that over 90% of these inflows were driven by hot money short-term speculative funds seeking high returns.
A closer look shows that $4.21 billion, or 74.6% of the total, was channelled into money market instruments, primarily OMO bills and Treasury Bills both short-term securities issued by the Central Bank of Nigeria to manage liquidity.