Nigeria records highest diaspora remittance inflow — CBN

Nigeria recorded $947 cardinal successful remittance inflows done International Money Transfer Operators, IMTOs successful July 2026, according to the Central Bank of Nigeria, CBN.

The apex slope said the fig represents the highest monthly inflow ever recorded done ceremonial channels.

The CBN said the remittance inflow highlights advancement towards the US$1 cardinal monthly people acceptable by its Governor, Olayemi Cardoso.

DAILY POST reports that IMTO inflows reached US$3.8 cardinal successful the archetypal 7 months of 2026, representing a 50.2 per cent summation compared with the aforesaid play successful 2025 and pointing to a important strengthening of flows done ceremonial channels.

The information showed that the summation followed a bid of reforms by the CBN aimed astatine making ceremonial remittance channels much competitive, transparent and accessible.

“These see a determination to a much market-determined speech rate, reforms to the regulatory model for IMTOs, and the instauration of the Non-Resident Bank Verification Number, NRBVN, alongside person engagement with IMTOs, banks and Nigerian diaspora communities.

“More recently, the CBN has strengthened requirements for remittance transactions to beryllium routed done designated colony accounts with authorised d...