Chairman of the Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa, said the surge reflects renewed confidence in the economy and recent CBN reforms.
In a statement by NiDCOM’s spokesperson, Abdur-Rahman Balogun, Dabiri-Erewa described the inflow as “humongous,” noting it represents a 200 percent increase from the previous $200 million monthly average.
She commended CBN Governor, Olayemi Cardoso, for initiatives such as the Non-Resident Bank Verification Number and a more competitive exchange rate, which have encouraged Nigerians abroad to use official channels. Dabiri-Erewa also echoed Cardoso’s optimism that remittances could reach $1 billion monthly by 2026.
Reaffirming NiDCOM’s commitment to deepening diaspora engagement, she cited platforms like the Nigerian Diaspora Investment Summit, National Diaspora Day, and the Diaspora Youth Summit. She also lauded the patriotism of Nigerians in the diaspora, stressing President Bola Tinubu’s dedication to citizens’ welfare at home and abroad.
Meanwhile, speaking at the Delta State–Brazil Business and Investment Roundtable in São Paulo, Cardoso said the reforms have made Nigeria’s exchange rate more competitive, reducing reliance on unofficial channels.
“Those who previously sought other channels to send money back home no longer have to do so,” he said, adding that inflows have already risen from $200 million to $600 million monthly, a sign of growing trust in the economy.
Leave a comment
Your email address will not be published. Required fields are marked *
