Nigeria's banking sector attracted foreign capital inflows amounting to $13.53 billion in 2025, indicating a remarkable increase of 93.25% from the $7.00 billion recorded in 2024.
This increase is largely attributed to banks ramping up their capital-raising activities in anticipation of the Central Bank of Nigeria's (CBN) set deadline for recapitalization.
According to data from the National Bureau of Statistics (NBS), the banking industry continued to be the leading recipient of foreign capital, capturing 58.26% of total inflows in 2025, which is an increase from 56.81% in 2024.
The figures reveal consistent growth throughout the year across all four quarters, demonstrating ongoing investor confidence and involvement within the sector.
In the first quarter of 2025, foreign inflows reached $3.13 billion, up from $2.07 billion in the same period of 2024. This upward trend persisted into the second quarter with inflows recorded at $3.41 billion, compared to just $1.12 billion in Q2 of the previous year.
During the third quarter, inflows rose to $3.14 billion, a significant jump from the $579.48 million posted in Q3 2024. The fourth quarter also showed an increase, with inflows escalating to $3.85 billion from $3.23 billion.
The persistence of these capital raising efforts mirrors the banks' phased strategies for recapitalization throughout the year.
The banking sector remained a dominant player in Nigeria's total capital importation, making up 55.44% in Q1, 66.56% in Q2, 52.25% in Q3, and 59.75% in Q4 of 2025.
Overall, Nigeria's total capital importation for the year reached $23.22 billion, a significant rise from $12.32 billion in 2024, indicating an 88.45% year-over-year increase.
The banking sector was a key contributor, accounting for more than $6.53 billion of the total increase of $10.90 billion, highlighting its crucial role in the nation's economic expansion.
Analysts have linked this impressive growth primarily to the ongoing recapitalization exercise, which is reshaping the flow of capital into the banking sector.
With new minimum capital requirements set at ₦500 billion for international banks, financial institutions are increasingly turning to foreign investments through equity raises, private placements, and strategic partnerships to meet these regulations.
CBN Governor Olayemi Cardoso previously noted that 32 banks have already complied with the updated capital thresholds established under the recapitalization framework.
Furthermore, the apex bank reported that Nigerian banks have successfully raised approximately ₦4.61 trillion in new capital, a clear reflection of heightened investor confidence and increased foreign participation in the banking sector.
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