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Nigeria recorded higher diaspora remittances in Q2 2026 even as payments on foreign investments rose, leaving the external income balance thinner.

Grey secured an International Money Transfer Operator licence from the CBN as Nigeria remittance market grows past 100 licensed operators.

Nigeria’s net foreign exchange flows rose to $22.50 billion in the second quarter of 2026, the highest quarterly level since Q4 2019, according to the Central Bank of Nigeria’s Q2 2026 Statistical Bulletin, Nairametrics reported.

CBN Governor Olayemi Cardoso says the reforms that boosted diaspora remittances to nearly $1 billion monthly will be replicated to diversify foreign exchange earnings and reduce oil dependence.

PenCom has automated penalties for employers that delay pension remittances, after cumulative recoveries from defaulters reached N36.6 billion.