Nigeria's Personal Transfers Reach $11.12 Billion in 2026

In the first half of 2026, Nigeria received a total of $11.12 billion in personal transfers, which include workers’ remittances, as reported by the Central Bank of Nigeria (CBN). The data, derived from the CBN’s Balance of Payments Highlights for the first and second quarters of 2026, indicates that personal transfers rose from $5.30 billion in the first quarter to $5.82 billion in the second quarter, marking a quarterly increase of $520 million.

This represents a 9.8% rise between the two quarters. The increase in personal transfers is significant as it underscores the importance of diaspora-related transfers to Nigeria’s external receipts.

Additionally, the country’s current account surplus expanded by 67.9% to $7.54 billion in the second quarter, up from $4.49 billion in the preceding quarter. Personal transfers are categorized under secondary income in the current account and are a crucial source of foreign exchange inflows alongside exports and other external receipts.