Nigeria Nears $1Bn Monthly Remittance Milestone
Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, said Nigeria is nearing its target of attracting $1 billion in monthly remittance inflows, after inflows through International Money Transfer Operators (IMTOs) rose to a record $947 million in July 2026.
The July figure represents the highest monthly remittance inflow ever recorded through formal channels and brings the country within touching distance of the $1 billion monthly milestone set by CBN under Cardoso’s leadership.
Remittance inflows through IMTOs also reached $3.8 billion in the first seven months of 2026, representing a 50.2 per cent increase over the $2.5 billion recorded in the corresponding period of 2025.
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