CBN: IMTO inflows hit record $1.29 billion in Q1, jump 45%
Inflows through International Money Transfer Operators (IMTOs) rose to a record US$1.29 billion in the first quarter of 2026, representing a 45% increase from the US$888.47 million recorded in the same period of 2025. The post CBN: IMTO inflows hit record $1.29 billion in Q1, jump 45% appeared first on Nairametrics .
The Central Bank of Nigeria (CBN) reported that International Money Transfer Operator (IMTO) inflows reached a record $1.29 billion in the first quarter of 2026, marking a 45% increase from $888.47 million in the same period last year. This surge in international money transfers indicates stronger foreign exchange receipts through these operators during the period.
In January, IMTO inflows hit a monthly high of $506.66 million, continuing an upward trend in remittance inflows through formal channels. February saw inflows of $402.13 million, up from $288.82 million in the same month of 2025. This growth in IMTO inflows surpasses the combined figures from the first quarter of each year from 2019 to 2025.
The CBN has collaborated with IMTOs to establish a task force aimed at doubling remittance inflows into Nigeria, following an agreement reached earlier. Despite an 11.78% decline in remittance inflows through IMTOs in the first half of 2025 compared to 2024, the latest data suggests a reversal of this trend, signaling a positive shift in the country's foreign exchange flow.
Written by urgent.news from Nairametrics's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
