Stanbic IBTC Leads Capital Importation With $3.60bn, January To March 2019–NBS

National Bureau of Statistics has said that Stanbic IBTC top capital investment in Nigeria between January and March 2019. The Bureau in its report on Capital importation said “By Bank, Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in the first three Months of 2019 with $3,606.09 million. This accounted for 42.50% of the total capital inflow in Q1 2019.

“By sector, Capital importation by banking dominated Q1 2019 reaching $2,851.07 million of the total capital importation in Q1 2019. The United Kingdom emerged as the top source of capital investment in Nigeria in Q1 2019 with $4,531.22 million. This accounted for 53.40% of the total capital inflow in Q1 2019. By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in Q1 2019 with $4,773.26 million. This accounted for 56.25% of the total capital inflow in Q1 2019”.

According to the report “The total value of capital importation into Nigeria stood at $8,485.49 million in the first quarter of 2019. This represents an increase of 216.03% compared to Q4 2018 and 34.61% increase compared to the first quarter of 2018. The largest amount of capital importation by type was received through Portfolio investment, which accounted for 84.21% ($7,145.98 ) of total capital importation, followed by other Investment, which accounted for 12.91% ($1,096.15m) of total capital, and then Foreign Direct Investment FDI, which accounted for 2.86% ($243.36m) of total capital imported in 2019”.