Diaspora remittances into Nigeria reportedly hit a record monthly high in January 2026, driven by FX market reforms that narrowed the gap between official and parallel market rates and encouraged formal channels.
The CBN’s incentive approach and the licensing of new International Money Transfer Operators (IMTOs) have helped reduce transfer costs, with analysts describing remittances as a key pillar for reserves stability.
Policy discussions are also shifting toward remittance-backed bonds that would allow diaspora funds to support infrastructure projects, converting consumption inflows into long-term development capital.
Echotitbits take: For years, billions bypassed the official system. Better FX transparency is restoring diaspora confidence in formal channels. The next step—Diaspora Bonds—could help close Nigeria’s infrastructure funding gap, but only if managed transparently and credibly.
Source: This Day – https://www.thisdaylive.com/2026/01/17/how-cbn-reforms-are-boosting-nigerias-fx-inflows-balance-of-payments/ 2026-01-27
Photo Credit: This Day
