NiDCOM Celebrates Record $1.57bn Diaspora Remittance Inflows in Q2 2026
The Nigerians in Diaspora Commission (NiDCOM) has welcomed the record $1.57 billion diaspora remittance inflows recorded through International Money Transfer Operators (IMTOs) in the second quarter of 2026.
The Chairman/Chief Executive Officer of NiDCOM, Hon. Abike Dabiri-Erewa, described the development as a strong indication of the significant contributions of Nigerians living abroad to the country’s economic growth and stability.
According to the Central Bank of Nigeria’s (CBN) Q2 2026 Statistical Bulletin, the $1.57 billion inflow represents an increase of approximately 33 per cent compared with the $1.18 billion recorded in the corresponding period of 2025.
The figure is also the highest quarterly remittance inflow recorded in the available data series from 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 remittance inflows stood at $513.81 million in April 2026, compared with $597.44 million in April 2025.
In May 2026, the inflows increased to $472.13 million from $288.17 million recorded in the same month of the previous year.
June recorded the strongest performance, with inflows rising to $580.16 million, representing a significant increase from the $292.25 million recorded in June 2025.
Dabiri-Erewa noted that the impressive figures demonstrate the growing importance of diaspora remittances as a major source of foreign exchange, household support and economic resilience.
The Q2 performance also builds on the recovery recorded in the first quarter of 2026, when formal remittance inflows reached $1.29 billion, representing a 45 per cent increase from the $888.47 million recorded in Q1 2025.
NiDCOM said the consistent growth reflects the commitment of Nigerians abroad to supporting their families and contributing to the country’s overall development.
The Commission further noted that diaspora remittances play an important role beyond household consumption, as they can strengthen foreign exchange supply through formal financial channels, improve transparency in the currency market and promote economic stability.
It added that sustaining the growth would require building confidence in regulated money transfer channels and creating a favourable environment to encourage diaspora investments.
