Inflows from Global Cash Switch Operators (IMTOs) into Nigeria rose to $1.57 billion in the second one quarter of 2026, the very best quarterly general recorded within the to be had sequence between 2019 and 2026.
In keeping with the Central Financial institution of Nigeria’s (CBN) Q2 2026 Statistical Bulletin, the determine represents an build up of roughly 33 in keeping with cent from the $1.18 billion recorded within the corresponding length of 2025.
The newest influx surpassed the former quarterly report of roughly $1.47 billion recorded within the 3rd quarter of 2024, reflecting more potent remittance receipts in Might and June 2026.
Knowledge from the CBN confirmed that inflows stood at $513.81 million in April 2026, when put next with $597.44 million in April 2025.
Receipts larger to $472.13 million in Might, up from $288.17 million in the similar month of the former 12 months, whilst June inflows rose to $580.16 million from $292.25 million in June 2025.
Even though April recorded a year-on-year decline, the will increase in Might and June greater than offset the shortfall. June additionally recorded the very best per thirty days influx of the quarter.
The second one-quarter efficiency exceeded the former prime for a similar length, when inflows reached roughly $1.26 billion in 2024.
Historic 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 sooner than declining to $1.18 billion in 2025, forward of the newest build up to $1.57 billion in 2026.
Different quarterly figures additionally confirmed considerable inflows in contemporary sessions, with the 3rd quarter of 2024 recording roughly $1.47 billion and the fourth quarter of 2025 recording about $1.40 billion.
The newest efficiency follows an build up in IMTO inflows to $1.29 billion within the first quarter of 2026, up 45 in keeping with cent from $888.47 million recorded within the corresponding length of 2025, consistent with an previous record via Nairametrics.
The figures point out that remittance inflows reinforced additional in the second one quarter, following the expansion recorded within the first 3 months of the 12 months.
The rise comes amid regulatory adjustments offered via the CBN to reinforce oversight of global cash transfers and make stronger transparency within the foreign currency echange marketplace.
In March 2026, the apex financial institution directed all IMTOs running in Nigeria to open and take care of naira agreement accounts with authorized broker banks. The directive used to be aimed toward tightening oversight of diaspora remittances and making improvements to transparency within the foreign currency echange marketplace.
The transfer adopted previous adjustments to the running framework for global cash switch operators.
In January 2024, the CBN got rid of the cap on alternate charges quoted via IMTOs. Ahead of the exchange, operators have been required to cite charges inside of a variety of minus 2.5 in keeping with cent to plus 2.5 in keeping with cent round the day past’s last fee at the Nigerian International Trade Marketplace.
The CBN therefore issued revised tips for IMTO operations on the finish of January 2024, additional adjusting the principles governing the sphere.
The newest figures additionally observe a decline in remittance inflows all over the primary part of 2025, when receipts fell via 11.78 in keeping with cent when put next with the corresponding length of 2024, consistent with an previous Nairametrics record.
The rise recorded within the first part of 2026 subsequently marks a more potent remittance influx pattern, with the second-quarter general atmosphere a brand new prime within the to be had quarterly sequence.
Boluwatife Enome
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