Banks in Nigeria saw total capital inflows of $16.78 billion between January and September 2025, marking a 131.81 per cent increase from the $7.236 billion recorded in the same period in 2024, as foreign investors significantly increased their investments in FPIs.

The data comes from the National Bureau of Statistics’ latest Capital Importation report for Q3 2025.

The report shows that roughly 97% of total capital inflows went into foreign portfolio investments, while only 3.3% was directed to foreign direct investments.

This indicates that banks primarily served as a channel for these funds rather than being the ultimate recipients of the capital.

The report indicates that capital importation in Q3 2025 reached $6.01 billion, representing a sharp 380.16 per cent increase from $1.252 billion in Q3 2024.

In Q2 2025, total inflows rose to $5.12 billion, up 96.6 per cent from $2.60 billion in the same period last year.

In Q1 2025, capital importation stood at $5.64 billion, marking a 67.12 per cent increase compared to $3.38 billion in Q1 2024.

Together, these quarterly inflows brought the total for the first nine months of 2025 to $16.774 billion, underscoring renewed investor confidence and a strong recovery in foreign capital flows.

Of the total capital importation in 2025, only $590 million was directed into equity investments, while $13.6 billion flowed into bonds and money market instruments.

“Foreign capital inflows reached US$20.98 billion in the first ten months of 2025, a 70% increase over total inflows for 2024 and a 428% surge compared to the US$3.9 billion recorded in 2023, reflecting a clear resurgence in investor confidence,” Cardoso said at the time.

In Q3 2025, Standard Chartered Bank Nigeria Limited received the largest share of capital inflows, attracting $2.115 billion, or 35.17 per cent of the total.

It was followed by Stanbic IBTC Bank Plc with $1.789 billion (29.75 per cent).

Other banks recorded the following inflows during the quarter:
Citibank Nigeria Limited: $561.40 million (9.33 per cent);

Access Bank Plc: $385.03 million (6.40 per cent); Rand Merchant Bank: $306.92 million (5.10 per cent);
Ecobank Nigeria Plc: $299.91 million (4.99 per cent).

With, First Bank of Nigeria Plc: $254.29 million (4.23 per cent);
Zenith Bank Plc: $94.89 million (1.58 per cent);
Guaranty Trust Bank Plc: $80.12 million; and
Fidelity Bank Plc: $56.25 million.

Sectoral data show that the banking sector received the largest share of inflows in Q3 2025, totaling $3.142 billion, or 52.25 per cent of all capital imported.