emerged as the financial institution that attracted the highest amount
of capital investment in the third quarter of 2019. This was contained
in the Nigerian Capital Importation report of the Nigerian Bureau of
Statistics. According to the report, Stanbic IBTC Bank PLC attracted
$1,630.91 million in Q3 2019, which equates to 30.38% of the total
capital inflow during the same period.
The Nigerian Capital Importation Q2 report earlier released by the
Nigerian Bureau of Statistics in September, 2019, also revealed that
Stanbic IBTC PLC attracted 30.34% of the total capital inflow into the
country.
Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Bank PLC, stated that
the report identifying the bank as facilitating the highest amount of
capital inflows reflects the immense contribution of the financial
institution to the Nigerian economy. He added that the bank would
continue to take the lead in the facilitation of business transactions
that would inject foreign capital into the country.
The report reflected that the total value of capital imported into the
country as at Q3 2019 was $5,367.56 million. A breakdown showed that the
largest amount of capital importation by type was through portfolio
investments which amounted to $2,999.5 million (55.88%); while Other
Investment accounted for $2,167.98 million of total capital. Foreign
Direct Investment made up $200.08 million of total capital imported in
Q3 2019.
The Nigerian Bureau of Statistics (NBS) Capital Importation Q3 2019
Report outlines Nigeria’s economic outlook, showing the total value of
capital inflow into Nigeria. While Lagos State emerged as the top
destination of capital investment in Nigeria in Q3 2019 with $4,976.40
million, the United Kingdom was the biggest source of capital investment
into Nigeria during the third quarter. The value of capital inflow into
Nigeria was $2,011.14, representing 37.47% of the total capital inflow.