Nigeria's Remittances Reach $1.57 Billion in Q2 2026

In the second quarter of 2026, Nigeria's inflows through International Money Transfer Operators (IMTOs) hit a record $1.57 billion, marking a 33% increase from the $1.18 billion recorded in the same period in 2025, according to the Central Bank of Nigeria's Q2 2026 Statistical Bulletin. This figure is the highest quarterly total from 2019 to 2026, surpassing the previous record of $1.47 billion in Q3 2024.

The increase was primarily driven by stronger inflows in May and June, which compensated for a decline in April. April's inflows were $513.81 million, down from $597.44 million in April 2025.

May saw a recovery with inflows of $472.13 million, up from $288.17 million a year earlier, while June recorded the highest monthly inflow of the quarter at $580.16 million, compared to $292.25 million in June 2025. The figures extend the recovery from Q1 2026, where IMTO inflows reached $1.29 billion, a 45% increase from $888.47 million in Q1 2025.

Analysts suggest that these remittance inflows could enhance foreign exchange supply, support household consumption, and improve transparency in Nigeria's currency market.