CBN: Nigeria’s remittance inflows hit $3.8bn in seven months, up 50.2%

According to TheCable, the Central Bank of Nigeria (CBN) says the country recorded $3.8 billion in remittance inflows through international money transfer operators in the first seven months of 2026, a 50.2% rise from the same period in 2025.

The apex bank said July alone accounted for about $947 million, the highest monthly inflow yet, nearing its $1 billion monthly target.

CBN Governor Olayemi Cardoso attributed the growth to reforms including a market-determined exchange rate, changes to IMTO regulations, and the introduction of the non-resident bank verification number.

He said the bank expects sustained growth toward the $1 billion goal.