Nigeria's Diaspora Remittances Track Toward a Record $26bn in 2026

Nigeria’s diaspora remittances are projected to reach a record of about $26.1bn in 2026, up from roughly $23.8bn in 2025, according to the central bank’s outlook, as foreign-exchange reforms narrow the gap between official and parallel naira rates to around 2 percent. The trend follows a rule, in force since May, requiring transfer operators to pay beneficiaries in naira through official channels at a referenced market rate.

For senders, the near-closed rate gap is the headline: the official system now offers value much closer to street rates, reducing the old incentive to use informal routes. The practical step is to compare what the recipient actually receives in naira across providers, since the exchange rate now matters more than the upfront fee. Beneficiaries should also expect naira payouts rather than dollars.

Source: Central Bank of Nigeria; Technext; African Business.