Nigeria tops African countries remittances inflows, says Emefiele



Mr Godwin Emefiele, the Central Bank of Nigeria (CBN) Governor, says Nigeria tops other African countries in remittances of inflows and is among the top five globally.

He made this known at a remittance household surveys workshop jointly organised by the CBN and the African Institute for Remittances (AIR) on Tuesday in Abuja.

Emefiele, who was represented by Mr Mohammed Tumala, the Director, Statistics Department of CBN, said that remittances inflows contribute substantially to foreign exchange earnings and household finances in most developing countries.

“Money sent home by migrant workers is among the major financial inflows to developing countries and in some cases it exceeds international aids and grants.’’

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According to the World Bank, global remittances have risen gradually over the years to about 613 billion dollars in 2017, of which 72 billion dollars have…

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