Meltdown: Nigerians Now Send Money To Relatives Abroad!

By Olaolu Afolabi

In the past, when Nigerians travelled outside the country, it was not for economic reason. Then the economy of the country was better. Foreign currencies were not as valuable as they are today.

In those days, Nigerian parents who had children studying abroad, even wives who had husbands abroad, did send money to them for upkeep. It was a general belief then that they had gone abroad to study, and not to make money. So, a relief package was arranged for them to cope with the challenges their academics might pose.

These accounted for reasons Nigerians who won scholarships to study overseas, or even those who had their parents or guardians sponsoring them, returned to the country after a stipulated period to live in affluence, enjoying what their overseas certificates had earned them.

History is full of such people who had done the country proud in foreign lands in those days. As they finished their pursuits, they came back home to the banters and drums of their relatives, and even fellow countrymen who celebrated with them, their excellence and accomplishments.

Such people had cars and employment already in waiting as they arrived the country, since they had endured “the suffering” they encountered in foreign countries. They had no business taking asylum in foreign lands.

But as the years rolled by, the trend changed. The economic crunch which faced the country in the 80s led to the emancipation of Nigerians who preferred residing abroad and doing all manners of jobs to staying in the country and doing nothing. The political instability at the period also forced many to relocate.

Since the economy had become so bad, the stipend being sent from abroad was worthwhile here. The honour and recognition given to those abroad when they came home also made many to nurse such ideas.

At the period, the economy of foreign countries became flourishing, leaving behind Nigerian crippling economy. Nigerians now see any foreign country as a land full of green pastures. The dictatorial tendency of the military government then worsened the case.

Infrastructure in the country began to decay. Education was relegated to the background. What were the pride of Nigerians were devaluating due to leadership crisis. Even sports, where Nigerians once celebrated their local leagues, was set to base value.

Nigerians began to celebrate anything foreign. Foreign foods, clothes, cars, furniture, , Everything, even “foreign Nigerians” (Tokunbo).

But can one say the economy which opened ways abroad has started treading the downward path as there had, of recent, been reversal to the old order.

It was learnt from a reliable source that in a bank in the country, transactions in money transfer from Nigeria to countries abroad had reduced due to the economic meltdown. Some Nigerians living abroad had undergone shock in their finances and such could not cope except through interventions from well-wishers from Nigeria.

The source said that of recent, there were transfer of money from Nigeria to countries like the United Kingdom, United States, The Netherlands and Italy.

When asked why the trend had changed, the source said it was generally due to the meltdown which had affected the world economy, to which Nigerians living abroad were not immune.

Also, a middle-aged man, who has children in Canada and the United States, was asked how his children had been faring in the face of the “economic shock.” He said “I have helped them to cope by sending some stipends to them from here.

“My son in America called me recently that he was sacked at his place of work. When I asked him if he would come back to Nigeria to engage in some businesses, he said he could not leave the United States for Nigeria now.

“After a long discussion, he told me to send money to him so as to buy a car which he would use as taxi there. I had to send about N800,000 to him.

“At least, he is my son, he has to live,” the man said. Another Nigerian woman, a cloth dealer, who had a son in the United Kingdom, said: “I always travel abroad to see my son. Anytime I get there, I give him some money.

“What is the big deal there. Everyone knows the situation the whole world is in. There’s nothing strange in sending money to one’s children.

“When the economy was good, he used to send money to me. So, if time changes, I should reciprocate the gesture.”

The process of sending money abroad is not even easy. It is costly to send money overseas. If you’re lucky enough to be sending money from your bank account to another in a foreign country, the process is somehow complex, but not very costly.

While no one wishes Nigerians abroad bad times, it is hoped that the economy would turn around, and Nigerians at home would begin to enjoy remittances from abroad.



http://www.tribune.com.ng/27062009/away_home.html