Nigeria’s diaspora inflow increases to $600m monthly - CBN Gov Cardoso
CBN-Governor-Yemi-Cardoso
Posted inBanking Business Economy News Nigeria World News

Nigeria’s diaspora inflow increases to $600m monthly – CBN Governor Cardoso

3,523Posted inBanking, Business, Economy, News, Nigeria, World News2 minutes

The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that diaspora remittance inflow into the country increased from $200 million to $600 million monthly.

He disclosed this at the Delta State–Brazil Business and Investment Roundtable on Thursday in São Paulo, Brazil.

According to him, following the apex bank’s policies, the country’s exchange rate is becoming more competitive.

He said critics laughed at the CBN when it began rolling out reforms to ensure that diaspora inflows became a potential source of diversifying Nigeria’s foreign exchange inflows.

He added that Nigerians in the diaspora were now more confident in FX remittance channels, which is part of the reason for the surge in inflow.

“When we started looking at diaspora flows as a potential source of diversifying our foreign exchange flows, people laughed, and we found that we started off at about $200 million every month.

“In the last two months, the last count, we had reached $600 million per month. And by next year, we anticipate we will be getting at least $1 billion from our diaspora folks at home,” he stated.

Recently the naira appreciated against the dollar on Thursday to close at N1,535.47 amid a sustained rise in external reserves, which stood at $41.24 billion, according to CBN data.

Tags:

3,523 Comments

  14. Lashawn
    Reply
    August 28, 2026,

    canadian casinos no deposit bonus, bingo online play usa and fishing frenzy slot free online, or uk gambling forum

  16. Rochell
    Reply
    August 28, 2026,

    milwausaee wisconsin casino, craps tutorial usa and latest casino news in usa,
    or new zealandn casino gambling craps tips

  24. Gambling Voucher
    Reply
    August 28, 2026,

    play online poker united states, mict tabs slot usage and uk
    casino free bonus, or united kingdom poker slot machine online

  31. Hwa
    Reply
    August 28, 2026,

    slots bonuses uk, forms of gambling in canada and free casino usa bonus no deposit, or paypal poker sites australia

  33. lay bet odds in craps
    Reply
    August 28, 2026,

    no deposit online pokies nz, poker usa artrix and united statesn casino guide
    blackjack chart, or no deposit mobile casino australia

Leave a Reply

Your email address will not be published. Required fields are marked *