Nigeria records a monthly remittance high of $947 million, nearing CBN’s $1 billion target
Translated from English and summarized by DistantNews. Read the original for the full story.
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- Nigeria received $947 million in remittances through International Money Transfer Operators in July 2026, the highest monthly inflow recorded through formal channels.
- The figure is approaching the Central Bank of Nigeria governor’s target of $1 billion in monthly remittances.
- The central bank said formal-channel remittance inflows reached $3.8 billion.
Nigeria’s formal remittance inflows reached $947 million in July 2026, bringing the country close to the Central Bank of Nigeria’s monthly target of $1 billion.
The inflows came through International Money Transfer Operators, or IMTOs, and represented the highest monthly amount recorded through formal channels, according to the central bank.
The Central Bank of Nigeria also said remittance inflows through the channels had reached $3.8 billion. The figures were reported by Vanguard in a story by Babajide Komolafe.
About this summary
Originally published by Vanguard in English. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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