The Nigerians in Diaspora Commission (NiDCOM) has welcomed Nigeria’s record $1.57 billion in diaspora remittance inflows through International Money Transfer Operators (IMTOs) in the second quarter of 2026, describing the development as a significant contribution to the country’s economic growth and stability.
The figure, published in the Central Bank of Nigeria’s (CBN) Q2 2026 Statistical Bulletin, represents an increase of approximately 33 per cent compared with the $1.18 billion recorded in the corresponding period of 2025. It also surpasses the previous quarterly record of about $1.47 billion, recorded in the third quarter of 2024.
NiDCOM Chairman and Chief Executive Officer, Abike Dabiri-Erewa, said the performance highlights the growing importance of Nigerians abroad as a source of foreign exchange and support for households at home. The commission made the announcement in a statement issued by its Director of Media, Public Relations and Protocols, Abdur-Rahman Balogun.
A breakdown of the figures shows that inflows through IMTOs stood at $513.81 million in April 2026, compared with $597.44 million in April 2025. Receipts increased to $472.13 million in May, up from $288.17 million a year earlier, while June recorded the strongest monthly performance at $580.16 million, compared with $292.25 million in June 2025.
The second-quarter performance followed a strong first quarter, when formal remittance inflows reached $1.29 billion, representing a 45 per cent increase from the $888.47 million recorded in Q1 2025.
NiDCOM said the growth in formal transfers could strengthen foreign exchange supply, support household consumption and improve transparency in the currency market. It also stressed the need to build confidence in regulated money transfer channels and create a more favourable environment for diaspora investment.
However, the $1.57 billion figure specifically covers inflows through International Money Transfer Operators and should not be interpreted as a measurement of every form of money sent to Nigeria by citizens living abroad. The figures nevertheless point to a substantial increase in funds entering the country through formal transfer channels during the period.