The Nigerians in Diaspora Commission (NiDCOM) has applauded the record $1.57 billion inflow through International Money Transfer Operators (IMTOs) in the second quarter of 2026.
It described the development as a strong indication of the continued contribution of Nigerians in the diaspora to the nation’s economic growth and stability.
NiDCOM, in a statement posted via its X handle on Saturday, quoted the Central Bank of Nigeria’s (CBN) Q2 2026 Statistical Bulletin, saying the figure represented an increase of approximately 33 per cent from the $1.18 billion recorded in the corresponding period of 2025.
It also described it as the highest quarterly inflow in the available data series covering 2019 to 2026, surpassing the previous record of approximately $1.47 billion recorded in the third quarter of 2024.
NiDCOM’s Chairman/CEO, Abike Dabiri-Erewa, noted that the impressive performance underscored the growing significance of diaspora remittances as a vital source of foreign exchange, household support and economic resilience for Nigeria.
“A breakdown of the figures shows that inflows through IMTOs stood at $513.81 million in April 2026, compared with $597.44 million in April 2025,” the agency said.
“However, receipts rebounded strongly in May, rising to $472.13 million from $288.17 million in the corresponding month of the previous year. June recorded the strongest performance of the quarter, with inflows reaching $580.16 million, up from $292.25 million in June 2025,” the statement signed by the Director of Media, Public Relations and Protocols at NiDCOM, Abdur-Rahman Balogun, read in part.
NiDCOM further stated that the latest figures also consolidated the recovery recorded in the first quarter of 2026, when IMTO inflows reached $1.29 billion, representing a 45 per cent increase from $888.47 million recorded in Q1 2025.
The commission said it considered the upward trajectory an indication of the enduring commitment of Nigerians abroad to the well-being of families at home and the broader development of the Nigerian economy.
“Beyond supporting household consumption, diaspora remittances have the potential to strengthen foreign exchange supply through formal financial channels, improve transparency in the currency market and contribute to greater economic stability,” it said.
“The continued growth in formal remittance inflows also highlights the importance of building confidence in regulated transfer channels and creating an enabling environment for diaspora investments.”
PRESS RELEASE
NiDCOM HAILS RECORD $1.57 BILLION DIASPORA REMITTANCE INFLOWS IN Q2 2026
ABUJA, OCT., 2026:
Hon. Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora Commission (NiDCOM) has welcomed the record $1.57 billion inflow through International Money Transfer Operators (IMTOs) in the second quarter of 2026, describing the development as a strong indication of the continued contribution of Nigerians in the diaspora to the nation’s economic growth and stability.
Enjoying this article? Support our work with a small crypto donation.According to the Central Bank of Nigeria’s (CBN) Q2 2026 Statistical Bulletin, the figure represents an increase of approximately 33 per cent from the $1.18 billion recorded in the corresponding period of 2025.
It is also the highest quarterly inflow in the available data series covering 2019 to 2026, surpassing the previous record of approximately $1.47 billion recorded in the third quarter of 2024.
NiDCOM Boss noted that the impressive performance underscores the growing significance of diaspora remittances as a vital source of foreign exchange, household support and economic resilience for Nigeria.
A breakdown of the figures shows that inflows through IMTOs stood at $513.81 million in April 2026, compared with $597.44 million in April 2025.
However, receipts rebounded strongly in May, rising to $472.13 million from $288.17 million in the corresponding month of the previous year. June recorded the strongest performance of the quarter, with inflows reaching $580.16 million, up from $292.25 million in June 2025.
The latest figures also consolidate the recovery recorded in the first quarter of 2026, when IMTO inflows reached $1.29 billion, representing a 45 per cent increase from $888.47 million recorded in Q1 2025.
The Commission considers this upward trajectory as an indication to the enduring commitment of Nigerians abroad to the well-being of families at home and the broader development of the Nigerian economy.
Beyond supporting household consumption, diaspora remittances have the potential to strengthen foreign exchange supply through formal financial channels, improve transparency in the currency market and contribute to greater economic stability.
The continued growth in formal remittance inflows also highlights the importance of building confidence in regulated transfer channels and creating an enabling environment for diaspora investments.
E-signed
Abdur-Rahman Balogun (mnipr)
Director: Media, Public Relations and Protocols
(NiDCOM), Abuja.— Nigerians in Diaspora Commission (@nidcom_gov) October 31, 2026
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