Nigeria's Remittances Reach Record $1.57bn in Q2 2026
In the second quarter of 2026, Nigeria received $1.57bn in diaspora remittances through International Money Transfer Operators, the highest quarterly inflow recorded from 2019 to 2026. This amount represents a 33% increase from $1.18bn in the same period in 2025, as reported by the Central Bank of Nigeria's Q2 2026 Statistical Bulletin.
Strong inflows in May and June compensated for a decline in April, with monthly receipts of $513.81m in April, $472.13m in May, and $580.16m in June. The Q2 performance surpassed the previous Q2 record of approximately $1.26bn in 2024.
The increase in remittances follows the Central Bank of Nigeria's efforts to improve transparency and oversight of diaspora remittances, including a directive for IMTOs to maintain naira settlement accounts with authorized dealer banks. Historical data shows a steady growth in remittance inflows, with Q2 figures rising from $551.86m in 2019 to the current record.
Plus234Feed summary based on reporting from Punch Newspapers. Read the original report below.
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