The Federal Government has expressed excitement over a sharp rise in diaspora remittances, which have surged to $600m monthly in the past two months, according to figures from the Central Bank of Nigeria.\n<\/p>\n
The Chairman of the Nigerians in Diaspora Commission, Abike Dabiri-Erewa, said the increase reflected renewed confidence in the Nigerian economy and recent CBN policy reforms.\n<\/p>\n
In a statement issued by NiDCOM\u2019s spokesperson, Abdur-Rahman Balogun, on Monday, Dabiri-Erewa described the inflow as \u201chumongous,\u201d noting that it marked a 200 percent jump from the $200m monthly average previously recorded.\n<\/p>\n
She commended CBN Governor, Olayemi Cardoso, for reforms such as the introduction of the Non-Resident Bank Verification Number and a more competitive exchange rate, which have encouraged Nigerians abroad to channel funds through official platforms.<\/p>\n
Dabiri-Erewa also echoed Cardoso\u2019s optimism that remittances could hit $1bn monthly by 2026. <\/p>\n
She reaffirmed NiDCOM\u2019s commitment to deepening diaspora engagement through platforms like the Nigerian Diaspora Investment Summit, National Diaspora Day, and the Diaspora Youth Summit.\n<\/p>\n
She further praised the patriotism and trust of Nigerians in the diaspora, stressing that President Bola Tinubu\u2019s administration remained committed to the welfare of citizens both at home and abroad.<\/p>\n
Meanwhile, speaking at the Delta State\u2013Brazil Business and Investment Roundtable in S\u00e3o Paulo, Cardoso highlighted the impact of the reforms.\n<\/p>\n
\u201cOur exchange rate is becoming a lot more competitive. Those who previously sought other channels to send their money back home no longer have to do so,\u201d he said.\n<\/p>\n
According to him, the reforms have already boosted inflows from $200m to $600m monthly, underscoring growing confidence in the Nigerian economy.\n <\/p>\n","protected":false},"excerpt":{"rendered":"The Federal Government has expressed excitement over a sharp rise in diaspora remittances, which have surged to $600m…\n","protected":false},"author":2,"featured_media":126774,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101],"class_list":["post-126773","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/126773","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=126773"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/126773\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/126774"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=126773"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=126773"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=126773"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}