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

4,630Posted 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:

4,630 Comments

  16. Alannah
    Reply
    September 24, 2026,

    fishing frenzy demo slot, slot payback info united states and total poker usa, or online poker licence australia

  44. Cassandra
    Reply
    September 25, 2026,

    casino chains uk, fishing freuky slot game and ontario australia online gambling, or olg online casino
    australia

  46. Virginia
    Reply
    September 25, 2026,

    is online gambling banned in australia, top 100 uk online
    casinos and new zealand real money pokies app, or new zealandn online casino pokies

  48. Jerilyn
    Reply
    September 25, 2026,

    roulette online canada, canadian poker admiral and craps
    in usa casino, or canadian casino guide 2021 review

Leave a Reply

Your email address will not be published.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