By Opeyemi Adelakun
The Nigerians in Diaspora Commission (NiDCOM) has announced that remittances from Nigerians living abroad rose to a record $1.57 billion in the second quarter of 2026, describing the development as a significant boost to the country’s economy.
The figure, recorded through International Money Transfer Operators (IMTOs), represents an increase of approximately 33 per cent from the $1.18 billion received in the corresponding period of 2025.
NiDCOM disclosed the development in a statement posted on its X account on Saturday, citing figures from the Central Bank of Nigeria’s (CBN) Q2 2026 Statistical Bulletin.
The commission said the latest inflow was the highest quarterly figure in the available data series covering 2019 to 2026, surpassing the previous record of approximately $1.47 billion recorded in the third quarter of 2024.
Its Chairman and Chief Executive Officer, Abike Dabiri-Erewa, said the performance underscored the increasing importance of diaspora remittances as a source of foreign exchange, household support and economic resilience.
A breakdown of the figures showed that remittances through IMTOs stood at $513.81 million in April 2026, compared with $597.44 million in April 2025.
The inflow, however, recovered in May, rising to $472.13 million from $288.17 million recorded in the same month of the previous year.
June recorded the strongest performance, with remittances reaching $580.16 million, compared with $292.25 million in June 2025.
The statement, signed by NiDCOM’s Director of Media, Public Relations and Protocols, Abdur-Rahman Balogun, also noted that the latest figures extended the recovery recorded in the first quarter of 2026.
According to the commission, IMTO inflows stood at $1.29 billion in Q1 2026, representing a 45 per cent increase from the $888.47 million recorded in the corresponding period of 2025.
NiDCOM said the sustained increase reflected the commitment of Nigerians abroad to supporting their families and contributing to the country’s broader economic development.
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