Nigeria records $947 million in remittance inflows through International Money Transfer Operators (IMTOs) in July 2026, the highest monthly figure reported via formal channels, according to the Central Bank of Nigeria (CBN). The CBN says the figure brings the country close to a stated $1 billion monthly remittance target.
Both outlets cite a statement attributed to CBN Governor Olayemi Cardoso and report that the July inflows represent a peak compared with previous monthly totals using IMTO channels. Vanguard notes the remittance level is near the CBN’s $1 billion goal, while The Punch highlights that July remittances are the highest monthly inflow ever recorded, as described by the CBN.
The reporting focuses primarily on the same central data point—July’s $947 million through IMTOs—and on how close that level puts Nigeria to the CBN’s monthly benchmark. Neither source provides additional breakdowns of countries of origin, sender profiles, or reasons for the increase.
