August 30, 2026
By Babajide Komolafe
LAGOS — Nigeria recorded $947 million in remittance inflows through International Money Transfer Operators (IMTOs) in July 2026, the highest monthly inflow ever recorded through formal channels, according to the Central Bank of Nigeria (CBN).
The figure brings the apex bank closer to its $1 billion monthly remittance target set by Governor Olayemi Cardoso.
According to the CBN, remittance inflows through IMTOs reached $3.8 billion in the first seven months of 2026, representing a 50.2 per cent increase compared with the corresponding period in 2025.
