Nigeria’s remittance inflows hit $1.57bn in Q2 2026, says CBN
The Central Bank of Nigeria’s (CBN) has disclosed that Nigeria’s inflows through International Money Transfer Operators (IMTOs) rose to $1.57 billion in the second quarter of 2026, the highest quarterly total between 2019 to 2026.
CBN in its Statistical Bulletin, said the increase reflected strong inflows in May and June.
The latest figure surpassed the previous quarterly high in the available series, recorded in Q3 2024 at $1.47 billion.
CBN data show that IMTO inflows totalled approximately $1.57 billion between April and June 2026, up from $1.18 billion in the corresponding period of 2025, an increase of about 33per cent.
April inflows stood at $513.81 million, down from $597.44 million in April 2025. May inflows increased to $472.13 million, compared with $288.17 million a year earlier. June recorded $580.16 million, up from $292.25 million in June 2025.
The stronger inflows in May and June more than offset April’s year-on-year decline. June also recorded the highest monthly inflow of the quarter.
The quarterly total exceeded the previous second-quarter high of approximately $1.26 billion recorded in 2024.
The monthly figures show that quarterly IMTO inflows have varied considerably since 2019, with a broader increase in the amounts recorded in recent years.
Q2 inflows were approximately $551.86 million in 2019, $482.58 million in 2020, $638.19 million in 2021, $954.61 million in 2022 and $810.84 million in 2023. They then rose to $1.26 billion in 2024, before easing to $1.18 billion in 2025.
The latest quarterly performance represents a new high against these previous second-quarter totals. The monthly series also shows that Q3 2024 inflows reached approximately $1.47 billion, while Q4 2025 recorded about $1.40 billion.
Nairametrics previously reported that IMTO inflows reached $1.29 billion in Q1 2026, representing a 45% increase from $888.47 million in the same quarter of 2025. The latest figures show that inflows strengthened further in the second quarter.
