Nigeria's naira-only payout is live — and the FX gap has nearly vanished

The CBN’s naira-only remittance settlement has been in force since 1 May, paying beneficiaries in naira only via approved IMTOs at market rates. Early data the bank cites is favourable: the official-vs-parallel premium has fallen toward 2%, with a US$1bn-a-month inflow target by year-end and 2026 remittances projected near US$26bn. The trade-off is lost dollar-holding flexibility for recipients. For you: confirm your operator is CBN-approved, budget in naira, and don’t assume a domiciliary-dollar option still exists.