Nigerian banking sector attracts $15.7 billion foreign investments in 5 years

The Nigerian banking sector is one of the viable destinations for foreign investors in the country as it attracted over $15.7 billion in foreign investments in the past 5 years, representing one of the most attractive sectors in the Nigerian economy.

This is based on analysis carried out by Nairalytics, the research arm of Nairametrics from data obtained from the Central Bank of Nigeria (CBN).

According to the data, Nigeria recorded $68.87 billion in foreign inflows between 2017 and 2021, with the banking sector accounting for over 22.8% of the total capital imported, which was only bested by the local equities market.