Na so remittance outflows for Nigeria drop sharply by 36.09% inside 2025. E fall by N689.55 million when dem compare am with 2024, according to fresh data wey Central Bank of Nigeria (CBN) release on Tuesday.
This one na clear sign say economy dey stabilise small small as CBN Governor Olayemi Cardoso and im team dey push serious reforms for forex market.
Wetin Be Remittance Outflows?
Remittance outflows na money wey people, business or organisation dey send comot from Nigeria go outside country. E mean say funds dey waka abroad. But when e drop like this, e good for Naija because more forex dey enter than dey comot.
Total Outflows Fall from N1.91bn to N1.22bn
For full year, international payment outflows drop from N1.91 billion for 2024 go N1.22 billion for 2025. Na big contraction be that for cross-border remittance.
For 2024, the thing too high and volatile well well. Some months wey e peak include:
• May: N365.44 million
• June: N270.52 million
• September: N230.30 million
These three months alone carry over N866 million for the whole year.
But for 2025, e calm down. October na the lowest with only N33.02 million. November and December rebound small to N166.41 million and N200.31 million. The last two months alone take over 29% of the total outflows for the year.
January 2026 Update
For January 2026, remittance outflows stand at N107.47 million.
• Compared to January 2025 (N54.44 million), e increase by N53.03 million — na about 97.4% jump.
• But from December 2025 (N200.31 million), e drop by N92.84 million — that na 46.3% reduction.
Even though e higher than last January, e still no reach those peak months wey we see for 2024 and 2025. So outflows never return to that high level yet.
CBN Reforms Dey Work Well
The drop for outflows for 2025 happen at the same time wey inflows surge well well. CBN talk say diaspora remittance inflows triple reach about $600 million every month for the year.
Some key reforms wey CBN do include:
• Dem give Approval-in-Principle licence to 14 new International Money Transfer Operators (IMTOs).
• Dem launch Non-Resident Bank Verification Number (NRBVN) platform with NIBSS. Now Nigerians wey dey abroad fit get their BVN without coming back to Nigeria.
• Dem direct all IMTOs make dem open naira settlement account with authorised dealer banks so everything go dey transparent.
• Dem remove the old cap on exchange rate for IMTOs.
• Dem increase IMTO licence fee from N500,000 to N10 million and set minimum capital of $1 million.
• Dem allow IMTOs buy forex for domestic market now.
• Dem set up Collaborative Task Force wey dey report directly to Governor Cardoso to help double remittance inflows.
CBN Governor Olayemi Cardoso talk about NRBVN say na big milestone for financial inclusion. Im say:
With the introduction of NRBVN and other policy measures, we dey optimistic say we go reach our target of $1 billion monthly remittance flows. We believe this target dey very achievable because people dey trust formal channels more now.”
Remittance Important for Naija?
Remittance dey help people for house with consumption, savings, investment and forex supply. E don become very important as we dey try move away from oil money wey dey shake every time.
Now, more money dey enter Nigeria through formal way, and less dey comot. This one dey strengthen our net remittance position and show say confidence dey return for Nigeria remittances 2025 and 2026.
Conclusion
The 36% drop for remittance outflows for 2025, plus the triple increase for inflows, na clear proof say CBN reforms dey work. With NRBVN, more IMTOs, and better transparency, Naija dey set to collect even more diaspora remittances for 2026 and beyond.
Economy dey stabilise small small, and people dey use formal channels more. Na good news for Nigeria!
