NiDCOM Celebrates Record $1.57bn Diaspora Remittances in Q2 2026
Oru Leonard
The Nigerians in Diaspora Commission (NiDCOM) has applauded the record $1.57 billion diaspora remittance inflow recorded in Nigeria in the second quarter of 2026, describing it as evidence of the growing economic contributions of Nigerians living abroad.
Chairman/Chief Executive Officer of NiDCOM, Hon. Abike Dabiri-Erewa, said the impressive figures demonstrate the commitment of Nigerians in the diaspora to supporting families back home and contributing to the country’s economic growth and stability.
According to the Central Bank of Nigeria’s (CBN), Q2 2026 Statistical Bulletin, remittance inflows through International Money Transfer Operators (IMTOs) rose by approximately 33 per cent to $1.57 billion in the second quarter of 2026, compared with $1.18 billion recorded during the corresponding period in 2025.
The figure represents the highest quarterly inflow in the available data series covering 2019 to 2026, surpassing the previous record of approximately $1.47 billion achieved in the third quarter of 2024.
A breakdown of the figures shows that Nigeria received $513.81 million in April 2026, compared with $597.44 million in April 2025.
However, inflows improved significantly in May, reaching $472.13 million against $288.17 million recorded in the same month of the previous year.
June delivered the strongest performance of the quarter, with remittances rising to $580.16 million from $292.25 million in June 2025.
The Q2 performance further strengthens the recovery witnessed in the first quarter of 2026, when remittance inflows through IMTOs reached $1.29 billion, representing a 45 per cent increase over the $888.47 million recorded in Q1 2025.
Dabiri-Erewa noted that the sustained growth in diaspora remittances reinforces their importance as a major source of foreign exchange, household financial support and economic resilience.
She stressed that beyond providing financial assistance to families, remittances could help boost foreign exchange availability through formal financial channels, promote transparency in the currency market and strengthen Nigeria’s overall economic stability.
NiDCOM also emphasised the need to sustain confidence in regulated money transfer platforms and establish a more favourable business environment to encourage Nigerians abroad to channel more resources into productive investments at home.
The Commission described the rising remittance figures as a positive reflection of the enduring relationship between Nigerians in the diaspora and their homeland, while reaffirming the importance of harnessing diaspora resources for national development.
(NiDCOM Media)
