The Nigerians in Diaspora Commission (NIDCOM) has attributed the sharp increase in diaspora remittances to recent monetary policies of the Central Bank of Nigeria (CBN) and renewed confidence among Nigerians abroad in the nation’s financial system.
NIDCOM Chairman/CEO, Abike Dabiri-Erewa, disclosed this in a statement on Monday, signed by the Commission’s spokesperson, Abdur-Rahman Balogun.
According to statistics from the CBN, diaspora remittance inflows have tripled, rising to about $600 million monthly over the past two months.
Dabiri-Erewa noted that this growth underscores the critical role Nigerians in the diaspora continue to play in strengthening the nation’s economy, adding that their contributions go beyond financial remittances to investments, skills transfer, and community development.
She also commended the CBN’s initiatives, which, she said, had helped streamline inflows and restore credibility to official channels for remittance transfers.
