Nigeria’s inflows by way of International Money Transfer Operators (IMTOs) rose to $1.57 billion within the second quarter of 2026, the best quarterly whole between 2019 to 2026.
According to the Central Bank of Nigeria’s (CBN) Q2 2026 Statistical Bulletin, the rise mirrored robust inflows in May and June.
The newest determine surpassed the earlier quarterly excessive within the accessible sequence, recorded in Q3 2024 at $1.47 billion.
IMTO inflows attain $1.57 billion
CBN information present that IMTO inflows totalled roughly $1.57 billion between April and June 2026, up from $1.18 billion within the corresponding interval of 2025, a rise of about 33%.
- April inflows stood at $513.81 million, down from $597.44 million in April 2025.
- May inflows elevated to $472.13 million, in contrast with $288.17 million a yr earlier.
- June recorded $580.16 million, up from $292.25 million in June 2025.
The stronger inflows in May and June greater than offset April’s year-on-year decline. June additionally recorded the best month-to-month influx of the quarter.
The quarterly whole exceeded the earlier second-quarter excessive of roughly $1.26 billion recorded in 2024.
How quarterly inflows evaluate traditionally
The month-to-month figures present that quarterly IMTO inflows have diverse significantly since 2019, with a broader improve within the quantities recorded in recent times.
Q2 inflows have been roughly $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. They then rose to $1.26 billion in 2024, earlier than easing to $1.18 billion in 2025.
The newest quarterly efficiency represents a brand new excessive towards these earlier second-quarter totals. The month-to-month sequence additionally reveals that Q3 2024 inflows reached roughly $1.47 billion, whereas This autumn 2025 recorded about $1.40 billion.
Nairametrics beforehand reported that IMTO inflows reached $1.29 billion in Q1 2026, representing a forty five% improve from $888.47 million in the identical quarter of 2025. The newest figures present that inflows strengthened additional within the second quarter.
CBN tightens IMTO laws
The improve in remittance inflows comes amid regulatory adjustments launched by the CBN to strengthen oversight of worldwide cash transfers and enhance transparency within the overseas alternate market.
- In March 2026, the apex financial institution directed all IMTOs operating in Nigeria to open and preserve naira settlement accounts with authorised vendor banks. The directive was geared toward tightening oversight of diaspora remittances and enhancing transparency within the FX market.
- The transfer adopted earlier adjustments to the sector’s working framework. In January 2024, the CBN removed the cap on exchange rates quoted by IMTOs. Before the change, operators have been required to cite charges inside a spread of -2.5% to +2.5% round the day before today’s closing price on the Nigerian Foreign Exchange Market.
- The CBN subsequently issued revised tips for IMTO operations on the finish of January 2024, additional adjusting the principles governing the sector.
The efficiency follows a decline in IMTO inflows throughout the first half of 2025, when receipts fell by 11.78% in contrast with the identical interval in 2024, in line with an earlier Nairametrics report. The newest information due to this fact present a stronger remittance influx development within the first half of 2026.
