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

  38. TES​T
    Reply
    October 4, 2026,

    I spend my weekends exploring different virtual entertainment gaming venues. I strongly recommend TEST because it has absolutely everything needed. They provide an amazing variety of slot games with beautiful graphics and highly competitive payout rates for every registered user. They regularly update the platform with innovative features that keep the overall atmosphere feeling fresh and very exciting for players.

Leave a Reply

Your email address will not be published.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