In today’s BusinessDay, Nigerians in Diaspora are said to account for over 50% of remittances to Africa…
The Nigerian Export Import Bank (NEXIM) has disclosed that Diaspora Nigerians remitted over $7 billion in 2009, which represents 50 percent of the $14 billion globally remitted to Africa. Robert Orya, managing director, NEXIM, who made this known on Monday in Abuja at the 2010 Enterprise Exhibition and Business Forum, said the $14 billion global remittance in 2009 formed the highest source of foreign exchange into the continent.
The over 50 percent contribution of the $14 billion remittance globally by the Diaspora Nigerians is attributed to the fact that Nigeria has the highest number of migrants in the continent. Olaitan, therefore, added that the CBN would not relent in playing its role in developmental effort to achieving the various milestones as indicated in the national development plan, noting that focus would be placed on developing the real sector of the economy through stimulation of assets to finance entrepreneurship development, poverty reduction and building a sound and robust financial system.