The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said Africa’s largest economy Nigeria will attract $1 billion in diaspora remittances in 2025....
The Central Bank of Nigeria (CBN) has announced that remittance inflows in July 2024 surged to a record $553 million. This represents a 130% increase compared...
Foreign exchange inflows into Nigeria surged by 38.86% to $1.07 billion in the first quarter of 2024, according to the Central Bank of Nigeria’s (CBN) latest...
The Central Bank of Nigeria (CBN) has announced plans to double diaspora remittance flows to $39 billion by 2025. CBN Governor Olayemi Cardoso unveiled this plan...
Nigeria’s diaspora remittances rose to $19.5 billion in 2023, according to the latest Migration and Development Brief from the World Bank. Despite falling slightly short of...
The Central Bank of Nigeria (CBN) has issued a new directive requiring all Deposit Money Banks (DMBs) and International Money Transfer Operators (IMTOs) to pay diaspora...
The Central Bank of Nigeria (CBN) has reported a substantial increase in direct remittances, recording a 163% surge over the past five months. The data reveals...
Amid persistent foreign exchange (FX) scarcity and sluggish economic growth in high-income economies, Nigerians living abroad have sent home the lowest amount of remittances in nearly...
By Ifelade Ayodele In recent years, there has been a growing recognition of the significant role remittances play in driving economic growth and development across Africa....
Nigeria has seen a commendable surge in direct remittances with data released by the Central Bank of Nigeria (CBN) indicating a 3.74% increase in the first...