Moh247:


Naso but it's CBN and banks duty to make the system more secure for legit people and make it strict for scam

Moh247:




It's continuously difficult to make remitances into Nigeria, WU, MG are all bullshit, PayPal is fvcked

Buhari keeps shouting Kwaraption Kwaraption about, with Emefiele setting us up like every cash in flow is linked to Yahoo and Drugs

.

dominique:
So people are japaing from Egypt too? For Egypt to be the no.1 African country in the list, that means they have a lot of citizens in the diaspora sending money home. Either that or our people in obodo oyinbo are no longer sending home like before. They din use over billing to drive them away

Tinubuwins2023e:
70% of that money is received by yahoo boys

Eniitankorede:



They actually do not consider informal channels which most Nigerians abroad use because of the higher exchange rate and lower commissions. If that’s considered we should be number 3 after India and Pakistan.

dominique:
So people are japaing from Egypt too? For Egypt to be the no.1 African country in the list, that means they have a lot of citizens in the diaspora sending money home. Either that or our people in obodo oyinbo are no longer sending home like before. They din use over billing to drive them away

dominique:
So people are japaing from Egypt too? For Egypt to be the no.1 African country in the list, that means they have a lot of citizens in the diaspora sending money home. Either that or our people in obodo oyinbo are no longer sending home like before. They din use over billing to drive them away

ProvisioDigital:
▪ Often called 'diaspora' remittances (the word, diaspora has some negative connotation but popularly used in Nigeria for Nigerian migrants) in the world, these ten countries have received the largest remittance from their citizens abroad in 2021:
1. India
2. Mexico
3. China
4. Philippines
5. Egypt
6. Pakistan
7. France
8. Bangladesh
9. Germany
10. Nigeria


 Nigeria and Egypt are the 2 African countries that consistently feature in the top ten. Nigeria used to receive more remittances than Egypt but from 2017, this changed. Egypt has been the 5th largest recipient of remittances in the world since 2017.

▪ From 2010 to 2011, Nigeria was the 5th largest recipient; from 2012 to 2015, Nigeria was the 6th; from 2016 to 2019, Nigeria was the 7th and in 2020, Nigeria finally dropped to the 10th place. Closely following Nigeria in 11th place is Ukraine ($18.1b), this could be attributed to the Russia-Ukraine conflict.

▪ Nigeria and Egypt had both been receiving above $20bn since 2017 but in 2020, Nigeria's remittance dropped to $17.1bn. According to the World Bank, countries that experienced scarcity of foreign exchange and multiple exchange rates witnessed decline in remittance inflows as flows went to alternate mediums where better rates were offered.




https://www.youtube.com/watch?v=wn-yby3mVEw

FreeStuffsNG:
Impressive!! So what is now our Gini coefficient?

Most of it came from remittances to SW and these top 10 states with Edo state leading and all the 6 SW states in the top 10.

https://twitter.com/StatiSense/status/1603631547810254848?t=Hk_H6ZM4EXok_aTdaTKHhg&s=19


RECEIVING INT'L REMITTANCES

Household, %
1 �Edo — 25.3%
2 �Oyo — 14.2%
3 �Imo — 12.9%
4 �Ogun — 11.9%
5 �Lagos — 11.5%
6 �Ondo — 9.4%
7 �Delta — 9.3%
8 �Ekiti — 8.7%
9 �Abia — 7.3%
10 �Osun — 6.3%

�South East �South South �South West

#StatiSense
check my signature for free stuffs!

Eniitankorede:



They actually do not consider informal channels which most Nigerians abroad use because of the higher exchange rate and lower commissions. If that’s considered we should be number 3 after India and Pakistan.

Ogurube:
The remittances to Nigeria will continue to dwindle if our government, families, and friends back home continue to take for granted the hard-earned monies being sent to them. It is exhausting to see some of our people waste money on useless things, rather than making productive attempts to invest the money given.

NwaMamaIwota:
hunny pie

PHIPEX:
I can tell you for free that most of those from the East use their remittance to buy goods and it comes as import instead of remittance, that's equivalent to earning a profit from same "remittance".

henro4niger:
Remember to get your PVC and vote for the best candidate, H.E Peter Obi. God bless Nigeria, God bless our incoming president, PO

Eniitankorede:



They actually do not consider informal channels which most Nigerians abroad use because of the higher exchange rate and lower commissions. If that’s considered we should be number 3 after India and Pakistan.

post=119326124:
This is MASSIVELY MASSIVE!!

For the layman out there,
Let's break this down for y'all,
Diaspora remittance means a person living abroad sending money back to their country of origin.
In the case of Nigeria, it is members of the diaspora sending money back home.

Thanks?!
No, Don't mention.
What are members for?

PHIPEX:
I can tell you for free that most of those from the East use their remittance to buy goods and it comes as import instead of remittance, that's equivalent to earning a profit from same "remittance".

xandy84:
You're absolutely right. Informal tranfer account for over 60 % of Nigeria remittance. I have not used WU or MG over 5 years cos the huge difference in exchange rate. Why send money thru WU or MG when I can zelle someone and the Naira will drop in few minutes in Lagos. After India and possibly Pakistan, Nigeria should be third on the list.
Zelle? Will they receive in dollars or naira equivalent?







.

SmartPolician:


The major reason is that Nigerians don't like paying charges on remittances. Instead, they go through channels they don't have to pay high fees.

Also, some people use their money to buy goods overseas, ship to Nigeria and have someone sell them.

This is often if their money is not legit. Such money won't appear under diaspora remittance.

PS: Swift is making a hell of money for facilitating all these cross-border remittances.

ednut1:
Alot of Nigerians use peer to peer to send money home. Are they being captured in all these

ShoeWorld2:
Pakistanis are not expatriates, they sell drugs more than Nigerian people but they're not as loud as Nigeria.

dominique:
So people are japaing from Egypt too? For Egypt to be the no.1 African country in the list, that means they have a lot of citizens in the diaspora sending money home. Either that or our people in obodo oyinbo are no longer sending money home like before. They don use over billing to drive them away

Ogurube:
Most of the money people spend in shipping stuff back home are legit. The problem is getting back your hard-earned seed money, much less getting the profit. Family always find ways to disrupt your business with their laziness or bills. You do all the monkey work, while they chop you with baboon stories. Many folks overseas have been burnt, exhausted, and are stepping back from such ventures. Nigeria is not an easy place to thrive.
You are 100% correct

Ogurube:
Most of the money people spend in shipping stuff back home are legit. The problem is getting back your hard-earned seed money, much less getting the profit. Family always find ways to disrupt your business with their laziness or bills. You do all the monkey work, while they chop you with baboon stories. Many folks overseas have been burnt, exhausted, and are stepping back from such ventures. Nigeria is not an easy place to thrive.

FreeStuffsNG:
It is possible if you can find the data to support your view. There are now data for all these issues unlike before where people make wild guesses.

The report showing SW leading in remittances aligns with the data that clearly indicated that SW indigenes are the most populous in the diaspora.
Until I saw that data, I have only assumed that SW indigenes do more travel internationally than within the borders of our nation.

airsaylongcome:


Why are they not expats?

Tinubuwins2023e:
70% of that money is received by yahoo boys