Inflows from International Money Transfer Operators (IMTOs) into Nigeria rose to $1.57 billion within the second quarter of 2026, the very best quarterly complete recorded within the obtainable sequence between 2019 and 2026.
According to the Central Bank of Nigeria’s (CBN) Q2 2026 Statistical Bulletin, the determine represents a rise of roughly 33 per cent from the $1.18 billion recorded within the corresponding interval of 2025.
The newest influx surpassed the earlier quarterly file of roughly $1.47 billion recorded within the third quarter of 2024, reflecting stronger remittance receipts in May and June 2026.
Data from the CBN confirmed that inflows stood at $513.81 million in April 2026, in contrast with $597.44 million in April 2025.
Receipts elevated to $472.13 million in May, up from $288.17 million in the identical month of the earlier yr, whereas June inflows rose to $580.16 million from $292.25 million in June 2025.
Although April recorded a year-on-year decline, the will increase in May and June greater than offset the shortfall. June additionally recorded the very best month-to-month influx of the quarter.
The second-quarter efficiency exceeded the earlier excessive for a similar interval, when inflows reached roughly $1.26 billion in 2024.
Historical information confirmed that second-quarter IMTO inflows stood at $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.
The determine rose to roughly $1.26 billion in 2024 earlier than declining to $1.18 billion in 2025, forward of the newest enhance to $1.57 billion in 2026.
Other quarterly figures additionally confirmed substantial inflows in latest durations, with the third quarter of 2024 recording roughly $1.47 billion and the fourth quarter of 2025 recording about $1.40 billion.
The newest efficiency follows a rise in IMTO inflows to $1.29 billion within the first quarter of 2026, up 45 per cent from $888.47 million recorded within the corresponding interval of 2025, based on an earlier report by Nairametrics.
The figures point out that remittance inflows strengthened additional within the second quarter, following the expansion recorded within the first three months of the yr.
The enhance comes amid regulatory modifications launched by the CBN to strengthen oversight of worldwide cash transfers and enhance transparency within the overseas change market.
In March 2026, the apex financial institution directed all IMTOs working in Nigeria to open and preserve naira settlement accounts with authorised supplier banks. The directive was aimed toward tightening oversight of diaspora remittances and bettering transparency within the overseas change market.
The transfer adopted earlier modifications to the working framework for worldwide cash switch operators.
In January 2024, the CBN eliminated the cap on change charges quoted by IMTOs. Before the change, operators have been required to cite charges inside a spread of minus 2.5 per cent to plus 2.5 per cent round the day before today’s closing charge on the Nigerian Foreign Exchange Market.
The CBN subsequently issued revised pointers for IMTO operations on the finish of January 2024, additional adjusting the principles governing the sector.
The newest figures additionally comply with a decline in remittance inflows throughout the first half of 2025, when receipts fell by 11.78 per cent in contrast with the corresponding interval of 2024, based on an earlier Nairametrics report.
The enhance recorded within the first half of 2026 due to this fact marks a stronger remittance influx development, with the second-quarter complete setting a brand new excessive within the obtainable quarterly sequence.
Boluwatife Enome
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