Nigeria Records Record $947m Remittance Inflow, Nears $1bn Monthly Target

By Nigerian Niger Delta Reporters

LAGOS — Nigeria has recorded a major increase in formal diaspora remittances, with inflows reaching approximately $947 million in July 2026.

The figure represents the highest monthly remittance inflow recorded through International Money Transfer Operators (IMTOs), bringing the country significantly closer to the Central Bank of Nigeria's $1 billion monthly target.

The development is being viewed as an important boost to Nigeria's foreign-exchange position.

Diaspora remittances remain a major source of foreign currency for the Nigerian economy and provide financial support to millions of households across the country.

The latest figure also suggests growing use of formal channels for sending money into Nigeria.

Economic analysts say sustained growth in remittance inflows could strengthen foreign-exchange liquidity and provide additional support for the country's external position.

Nigeria's ability to consistently attract close to $1 billion in monthly remittances will therefore remain an important economic indicator in the months ahead.

Nigerian Niger Delta Reporters will continue tracking developments in Nigeria's foreign-exchange and remittance market.