Nigeria's IMTO Remittances Reach Record $1.57bn in 2026

Nigeria's inflows through International Money Transfer Operators (IMTO) hit a record $1.57bn in the second quarter of 2026, according to data from the Central Bank of Nigeria's Q2 2026 Statistical Bulletin. This figure represents a 33.1% increase from $1.18bn in the same period of 2025, surpassing the previous record of approximately $1.47bn set in Q3 2024.

The growth was primarily driven by substantial remittance inflows in May and June, which together accounted for about two-thirds of the quarter's total. April inflows decreased to $513.81m from $597.44m in April 2025, a decline of 14%.

In contrast, May receipts rose to $472.13m from $288.17m, marking a 63.8% increase, while June saw inflows of $580.16m, up 98.5% from $292.25m in June 2025. The $1.57bn recorded in Q2 2026 exceeded the previous second-quarter peak by approximately $310m, or 24.6%.