Nigeria has recorded its strongest improvement in foreign exchange (FX) accessibility in years, climbing 15 places to rank fourth among African economies where international investors can most easily deploy and repatriate capital, according to the Absa Africa Financial Markets Index 2025.
The report, released recently, attributes Nigeria’s leap to sweeping FX reforms introduced by the Central Bank of Nigeria (CBN) over the past year, including the unification of multiple FX windows, clearance of a $7 billion backlog in outstanding FX obligations, and a gradual phase-out of interventions that previously distorted market dynamics.
“Nigeria stands out as the highest riser following comprehensive FX market reforms,” the report said. “Its Pillar 2 score jumped to 73 from 52 last year, climbing 15 places to fourth.”