Nigeria’s Diaspora remittances hit file $1.57bn as analysts spotlight foreign exchange advantages

Nigeria’s inflows by way of International Money Transfer Operators (IMTOs) climbed to a file $1.57 billion within the second quarter of 2026, strengthening expectations that diaspora remittances might present extra help for the nation’s international change market.

The determine represents a rise of roughly 33 per cent from the $1.18 billion recorded within the corresponding interval of 2025, in response to the Central Bank of Nigeria’s (CBN) Q2 2026 Statistical Bulletin.

The newest efficiency is the very best quarterly whole within the obtainable knowledge sequence masking 2019 to 2026, surpassing the earlier file of about $1.47 billion recorded within the third quarter of 2024.

The enhance was pushed largely by stronger inflows in May and June, which offset a decline recorded in April.

Data confirmed that April inflows stood at $513.81 million, in contrast with $597.44 million in the identical month of 2025. Receipts recovered to $472.13 million in May, up from $288.17 million a 12 months earlier, whereas June inflows rose to $580.16 million from $292.25 million.

June consequently recorded the strongest month-to-month influx of the second quarter.

The newest figures additionally prolong the restoration recorded within the first quarter of 2026, when IMTO inflows reached $1.29 billion, representing a forty five per cent enhance from $888.47 million within the first quarter of 2025.

Financial market analysts say stronger remittance inflows might enhance the provision of international change by way of formal channels, help family consumption and strengthen transparency in Nigeria’s foreign money market.