The Central Bank of Nigeria (CBN) aims to increase monthly diaspora remittances to $1 billion by the end of 2026, marking a 67% growth from current levels of over $600 million. CBN Governor Olayemi Cardoso announced the target during the BusinessDay CEO Forum in Lagos, highlighting that collaborative strategies with commercial banks and improved engagement with Nigerians abroad are driving the surge. Additionally, Cardoso reported that Nigeria’s gross external reserves have risen by 63% to nearly $52 billion since September 2023, while net reserves have grown from $3 billion to over $40 billion, bolstered by ongoing foreign exchange market reforms.