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The Central Bank of Nigeria (CBN) has stated that aggregate foreign exchange inflow into the economy rose to $91 billion in 2017. According to the apex bank’s 2017 annual report, released on Thursday, the amount represents a 45 percent increase from the $62.75 billion forex inflows recorded in 2016.

The aggregate foreign exchange outflow also increased by 31.8 percent to $33.68 billion, compared to $25.55 recorded in 2016, according to the report. The increase in outflow was attributed to the increased intervention by the CBN in the inter-bank and Bureau De Change segments of the foreign exchange market during the year under review.

The CBN, however, accounted for 90.7 percent of the foreign exchange outflow or the equivalent of $30.55 billion. The aggregate foreign exchange outflow through autonomous sources stood at $3.13 billion.

According to the report, inflows through the CBN rose to $42.17 billion, compared with $21.07 billion in 2016. Foreign exchange inflow through autonomous sources amounted to $48.33 billion.

Meanwhile, earnings from non-oil components contributed the majority of the inflow amounting to $31.80 billion, while earnings from crude oil export accounted for $10.37 billion.

The increase in the inflow from non-oil components was attributed to increase in foreign exchange purchases; government debt proceeds; securities lending cash collateral; the Treasury Single Account and third-party receipts.