The National Bureau of Statistics said the total value of capital importation into Nigeria stood at $8,485 million in the first quarter of 2019.
Under the Nigerian law, it is required for every foreigner investing in a local business in the country to procure a Certificate of Capital Importation . The NBS also said in its report that the total value of capital importation represented an increase of 216.03 per cent compared to the fourth quarter of 2018.The bureau said the largest amount of capital importation by type was received through Portfolio investment, which accounted for 84.21 per cent of total capital importation.
The report said by sector, capital importation by banking dominated the first quarter of 2019 , reaching $2,851.07 million the total capital importation in Q1 2019.
So poor!!!