The total value of capital importation into Nigeria in the first half of the year 2020 stood at $7.149 billion. This represents a decrease of -50.9% compared to the H1 2019 figure of $14.560 billion and -24.2% compared to the H2 2019 figure of $9.429 billion.
Standard Chartered Bank, however, attracted the most of the capital importation in H1 2020 with a total of $2.081 billion representing over 29% of the total. Stanbic IBTC also attracted a significant amount of the imported capital as well with a total of $1.724 billion representing 24% of total passing through the bank.
Other banks: Citibank attracted $910 million; FirstBank $742 million; Rand Merchant Bank $689 million; Access Bank $301 million; Ecobank $232 million; GtBank $100 million; FCMB also $100 million and Zenith with the lowest capital importation destination in H1 2020 among the top 10 destination Banks.
By Destination of Investment, Lagos state emerged as the top destination of capital investment in Nigeria in H1 2020 with $6.266 billion. This accounted for 87.6% of the total capital inflow in H1 2020.
The United Kingdom emerged as the top source of capital investment in Nigeria in H1 2020 with $3.337 billion. This accounted for 47% of the total capital inflow in H1 2020.
The Banking Sector attracted the most Capital Importation in H1 2020. The sector accounted for $3.130 billion representing 44% of total capital inflow in H1 2020.
The largest amount of capital importation by type was received through Other investment, which accounted for 58.77% ($761.03m) of total capital imported, followed by Portfolio Investment, which accounted for 29.76% ($385.32m) and Foreign Direct Investment (FDI), which accounted for 11.47% ($148.59m) of total capital imported in Q2 2020. By sector, Capital importation by Shares dominated in Q2 2020 reaching $464.57m of the total capital importation in Q2 2020.