{"id":9655,"date":"2026-08-19T11:42:34","date_gmt":"2026-08-19T11:42:34","guid":{"rendered":"https:\/\/ograsset.com\/?p=9655"},"modified":"2026-08-19T11:42:35","modified_gmt":"2026-08-19T11:42:35","slug":"imto-inflows-jump-45-to-1-29bn-in-q1","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/08\/19\/imto-inflows-jump-45-to-1-29bn-in-q1\/","title":{"rendered":"IMTO inflows jump 45% to $1.29bn in Q1"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

IMTO inflows jump 45% to $1.29bn in Q1<\/strong><\/p>\n\n\n\n

Nigeria recorded a sharp increase in foreign exchange inflows through International Money Transfer Operators in the first quarter of 2026, with the value rising 45 per cent year-on-year to a record $1.29bn.<\/p>\n\n\n\n

Data from the Central Bank of Nigeria\u2019s Q1 2026 Statistical Bulletin showed that IMTO inflows increased from $888.47m in the first quarter of 2025 to $1.29bn during the period under review.<\/p>\n\n\n\n

The latest figure represents an additional $398.26m compared with the corresponding period last year.<\/p>\n\n\n\n

January recorded the largest monthly inflow during the quarter at $506.66m. February followed with $402.13m, significantly higher than the $288.82m recorded in the same month of 2025.<\/p>\n\n\n\n

IMTO inflows stood at $377.93m in March, compared with $317.60m recorded a year earlier.<\/p>\n\n\n\n

Despite the month-on-month decline after January, the overall first-quarter performance remained stronger than the corresponding period in previous years. The $1.29bn recorded in Q1 2026 was also higher than the first-quarter IMTO inflows reported for every year from 2019 to 2025 in the CBN\u2019s data.<\/p>\n\n\n\n

The latest increase builds on stronger inflows recorded through formal remittance channels in 2025.<\/p>\n\n\n\n

April 2025 recorded the highest monthly IMTO inflow for the year at $597.44m. December followed with $511.11m, while inflows reached $485.65m in October and $402.25m in November.<\/p>\n\n\n\n

The improvement indicates a continued shift towards formal channels for diaspora remittances and foreign exchange receipts.<\/p>\n\n\n\n

It also represents a recovery from the weakness recorded in the first half of 2025, when IMTO<\/p>\n\n\n\n

inflows declined 11.78 per cent compared with the corresponding period of 2024.<\/p>\n\n\n\n

The stronger inflows have coincided with efforts by the CBN to tighten regulation and improve transparency in the IMTO market.<\/p>\n\n\n\n

In March 2026, the apex bank instructed IMTOs to open and maintain naira settlement accounts with authorised dealer banks.<\/p>\n\n\n\n

The directive was aimed at strengthening the monitoring of remittance transactions and improving<\/p>\n\n\n\n

transparency in Nigeria\u2019s foreign exchange market.<\/p>\n\n\n\n

The CBN had previously removed the exchange-rate cap for IMTOs in January 2024. Before the policy change, operators were required to quote rates within a range of -2.5 per cent to +2.5 per cent around the previous day\u2019s closing rate in the Nigerian Foreign Exchange Market.<\/p>\n\n\n\n

The regulator also increased the application fee for IMTO licences from N500,000 to N10m under its revised operating guidelines.<\/p>\n\n\n\n

The latest IMTO figures come amid broader improvements in Nigeria\u2019s foreign exchange inflows.<\/p>\n\n\n\n

CBN data showed that Nigeria recorded net foreign exchange flows of $4.94bn in March 2026. Although the figure was 29 per cent below the previous month, it was 38 per cent above the<\/p>\n\n\n\n

$3.58bn recorded in March 2025.<\/p>\n\n\n\n

Total foreign exchange inflows reached $109.86bn in 2025, compared with $96.53bn in 2024, representing a 13.81 per cent increase.<\/p>\n\n\n\n

The sustained growth in IMTO inflows suggests that formal remittance channels are becoming an increasingly significant source of foreign exchange for the Nigerian economy.<\/p>\n\n\n\n

Source: https:\/\/punchng.com\/imto-inflows-jump-45-to-1-29bn-in-q1\/<\/em><\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

IMTO inflows jump 45% to $1.29bn in Q1 Nigeria recorded a sharp increase in foreign exchange inflows through International Money Transfer Operators in the first quarter of 2026, with the value rising 45 per cent year-on-year to a record $1.29bn. Data from the Central Bank of Nigeria\u2019s Q1 2026 Statistical Bulletin showed that IMTO inflows… <\/p>\n

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