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Nairaland Forum / Nairaland / General / Business / World ('diaspora') Remittances In The World From 2010 (13439 Views)
90% Of 2023 Diaspora Remittances Didn’t Get To Nigeria — Oyedele / Diversion Of Diaspora Remittances To Black Market Weakens Naira - CBN / CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances (2) (3) (4)
Re: World ('diaspora') Remittances In The World From 2010 by LegendHero(m): 4:13pm On Dec 21, 2022 |
Moh247: Yes you’re right tho. But I think it’s two way thing. The USA too need to block it from the source which they tried and succeeded to an extent. Those scammers resorted to gift cards and bitcoin when WG, MG, and etc got right. No matter what you do, Nigeria criminals always adapt. 2 Likes 1 Share |
Re: World ('diaspora') Remittances In The World From 2010 by Eniitankorede: 4:15pm On Dec 21, 2022 |
Moh247: 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. 3 Likes 1 Share |
Re: World ('diaspora') Remittances In The World From 2010 by Teddy78(m): 4:16pm On Dec 21, 2022 |
That, or the inflow amounts increased without the number of senders necessarily increasing. dominique: |
Re: World ('diaspora') Remittances In The World From 2010 by NwaMamaIwota(f): 4:16pm On Dec 21, 2022 |
Tinubuwins2023e:hunny pie |
Re: World ('diaspora') Remittances In The World From 2010 by Moh247: 4:16pm On Dec 21, 2022 |
Eniitankorede: True.. Bitcoin exchanges are really picking up sales |
Re: World ('diaspora') Remittances In The World From 2010 by kenoyad: 4:16pm On Dec 21, 2022 |
Reason for decline in Nigeria figure is due to banking and financial manipulations. If all remittances are properly accounted for, Nigeria would be at least number 3 or 4. 1 Like 1 Share |
Re: World ('diaspora') Remittances In The World From 2010 by sorepco(m): 4:19pm On Dec 21, 2022 |
Mistly middleast. High valuebremitances not 300 or 500 dollars! dominique: |
Re: World ('diaspora') Remittances In The World From 2010 by SmartPolician: 4:21pm On Dec 21, 2022 |
dominique: Some Nigerians prefer to buy goods and send them back home, especially if their sources of livelihood aren't legit. |
Re: World ('diaspora') Remittances In The World From 2010 by GEEBITE: 4:21pm On Dec 21, 2022 |
The diaspora remittances can no longer be well captured again. Nigerians have found many other easy and convenient channels to send money home under the radar. Nigeria diaspora remiitance is certainly biigger than that of Egypt. ProvisioDigital: 1 Like |
Re: World ('diaspora') Remittances In The World From 2010 by PHIPEX(m): 4:24pm On Dec 21, 2022 |
FreeStuffsNG: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". 3 Likes |
Re: World ('diaspora') Remittances In The World From 2010 by xandy84: 4:24pm On Dec 21, 2022 |
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. . Eniitankorede: 1 Like |
Re: World ('diaspora') Remittances In The World From 2010 by SmartPolician: 4:26pm On Dec 21, 2022 |
Ogurube: 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. 1 Like |
Re: World ('diaspora') Remittances In The World From 2010 by Tinubuwins2023e: 4:28pm On Dec 21, 2022 |
NwaMamaIwota: Vote Tinubu |
Re: World ('diaspora') Remittances In The World From 2010 by Ogurube: 4:29pm On Dec 21, 2022 |
I agree. That’s what I do. I send cars, computers, and other useful items to help myself and family members. PHIPEX: 1 Like |
Re: World ('diaspora') Remittances In The World From 2010 by olamike02: 4:29pm On Dec 21, 2022 |
henro4niger:Pandora saint can't be my president. |
Re: World ('diaspora') Remittances In The World From 2010 by kenoyad: 4:32pm On Dec 21, 2022 |
Eniitankorede:Exactly, my point too, we should even be above Pakistan. A friend in UK send #1m or more every month and it's through backdoor, there's someone that send money to Nigeria, he will give him pounds, he credit his Nigerian bank that I opened for him, he have the naira in his Nigeria bank app and he use the money here for whatever he need to do, while the sender piles up the pounds for someone from Nigeria that will come to pick the pounds there from Nigeria. Same thing in south Africa, throughout my 3 and half years there, if we want to send money to Nigeria, we go to Emeka shop and give him Rand and he credit the Nigeria account. This practice is every where. 1 Like |
Re: World ('diaspora') Remittances In The World From 2010 by Bigleaf1006: 4:33pm On Dec 21, 2022 |
post=119326124: I don't think there are dummies on here.everyone understood the post from the get go |
Re: World ('diaspora') Remittances In The World From 2010 by FreeStuffsNG: 4:34pm On Dec 21, 2022 |
PHIPEX: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. 5 Likes 2 Shares |
Re: World ('diaspora') Remittances In The World From 2010 by sonnie10: 4:34pm On Dec 21, 2022 |
xandy84: |
Re: World ('diaspora') Remittances In The World From 2010 by Todaymedia: 4:36pm On Dec 21, 2022 |
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Re: World ('diaspora') Remittances In The World From 2010 by Ogurube: 4:36pm On Dec 21, 2022 |
Most of the money people spend on 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. SmartPolician: 1 Like |
Re: World ('diaspora') Remittances In The World From 2010 by Bigleaf1006: 4:37pm On Dec 21, 2022 |
ednut1: No!! This is due to unfavorable for ex policies brought by emefiele.....about 40% of nigerias remittances goes through unofficial channels and not captured in mainstream....I believe nigeria should be in top 5 at worst 6 in the world. |
Re: World ('diaspora') Remittances In The World From 2010 by Hazeem07: 4:39pm On Dec 21, 2022 |
Alot of reasons might be the cause of low remittance to Nigeria. Whether people are not japaing like before Citizens are no more sending money home due to lack of trust Too much billing due to the economy in Nigeria. My urgent 2k job If you need someone to analyse your data, or other things to do on Microsoft excel Contact me : 07064281235 olaitanhazeem@gmail.com I love you |
Re: World ('diaspora') Remittances In The World From 2010 by airsaylongcome: 4:39pm On Dec 21, 2022 |
ShoeWorld2: Why are they not expats? 1 Like
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Re: World ('diaspora') Remittances In The World From 2010 by tolue42(m): 4:41pm On Dec 21, 2022 |
dominique: Alot of Egyptian, Moroccan, Tunisians are in Belgium, Netherlands... Practically all European countries.. 1 Like |
Re: World ('diaspora') Remittances In The World From 2010 by sonnie10: 4:41pm On Dec 21, 2022 |
Ogurube: |
Re: World ('diaspora') Remittances In The World From 2010 by sonnie10: 4:43pm On Dec 21, 2022 |
Ogurube: You are 100% correct |
Re: World ('diaspora') Remittances In The World From 2010 by iyimide(m): 4:43pm On Dec 21, 2022 |
This statistics is not a true reflection of the happenings.. because of many crazy CBN policies, the remittances recorded are just the official figures.. bulk of the remittances are not offcially captured.. there are many agencies abroad who just transfer without records with CBN hence none official.. it is like that everywhere.. 1 Like |
Re: World ('diaspora') Remittances In The World From 2010 by annisy(f): 4:44pm On Dec 21, 2022 |
This is not a thing of pride!! If Nigeria is actually working who will want to leave his country to another man's country to work?! If not FG job you can hardly see a native of FCT in another state in Nigeria working,, we need leaders that will fix this country. @PeterObi @kwankwaso @sowere Is our best bet come 2023 anything outside those three na waste of time 1 Like |
Re: World ('diaspora') Remittances In The World From 2010 by Ogurube: 4:44pm On Dec 21, 2022 |
Congratulations! Clap for yourself that SW indigenes are the most populous overseas. FreeStuffsNG: 1 Like |
Re: World ('diaspora') Remittances In The World From 2010 by SmartPolician: 4:45pm On Dec 21, 2022 |
airsaylongcome: Pakistanis are called immigrants (to describe people from poor countries living and working in rich ones) Expatriates - someone from rich countries working in a poor country |
Re: World ('diaspora') Remittances In The World From 2010 by blingxx(m): 4:47pm On Dec 21, 2022 |
Tinubuwins2023e: I swear especially in 2020 when benefit dey cashout but everything don cast now |
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