₦airaland Forum

Nigerians living outside the country remitted $22 billion in 2107, according to the data published by the World Bank on Monday. The amount is 16.4 percent higher than the amount sent home in 2016.

The total amount sent home reached a new record-high in 2017, however, the costs of transferring funds also surged, the report noted. The better than expected rebound in remittances, used in supporting economic activities in poor nations, was bolstered by growth in the United States, Europe, and Russia.

Also, the total remittances to low and middle-income nations rose from $429 billion in 2016 to $466 billion in 2017, an increase of 8.5 percent. While remittance inflows improved in all regions, the largest inflows were from India with $69bn, followed by China ($64bn), the Philippines ($33bn), Mexico ($31bn), Nigeria ($22bn), and Egypt ($20bn) in 2017.

The global average cost of sending $200 was put at 7.1 percent in the first quarter of 2018, and sub-Saharan Africa remains the most expensive at an average cost of 9.4 percent.

“While remittances are growing, countries, institutions, and development agencies must continue to chip away at high costs of remitting so that families receive more of the money,” said Dilip Ratha, lead author of the report.

By region, Europe and Central Asia saw the largest jump in 2017, rising by 21 percent, while Sub-Saharan Africa climbed by 11 percent in the same year.

http://investorsking.com/diasporans-remit-22-billion-in-2017/

How much did Buharis kinsmen remit home?

And someone said that Nigerian youths are lazy, abi you think this money being remitted are from people above 60

Haba!!! Bubu use your head next time. #NigerianyouthsareNOTlazy

Good

I said it that if not for Nigerians living abroad and the ever hardworking Nigerian youths engaging in legal online freelance jobs thereby bringing in huge FOREX into Nigeria, the recession would have continued till 2020 or beyond.

Nigerians are very hardworking and creative people. Despite the useless leaders and governments they have had over the years, you can't take away the fact that Nigerians are super hardworking and creative.

But sadly, since 2016, CBN increased the bank charges on funds sent from abroad for no justifiable reason and still we can't see what they use these taxes for.

Sometimes I imagine how great Nigeria would have been if we had visionary leaders who are not selfish, wicked, clanish, tribalistic and corrupt like the government we have in power now, seriously, Nigeria would have been like Australia

Yahoo boys loot included..

Including wire wire money?

So certain it is way more than that because of others means through which transfers gets down to Nigeria.

This are the hard working Nigerian youth




Hahahhahhahahhaha check my signature

God plz make me a Nigerian living in diaspora.

Why only Nigerians living abroad?

What about Freelancers living in Nigeria that are using same remittance to receive their earnings?

What about Bloggers using Adsense and other ad agencies

Also, remember Yahoo guys as well as yahoo plus people too.

Please give every party their due respect

Enugu peeps


I see you


All those high rises in 042

Disaporans pulling weight

Wow!!! It was a good year for the money transfer companies.....

To help those buhari put to hunger.

These diasporans are mostly biafrans.

You can see the benefit of a floating exchange rate can do? Buhari uneconomic pegging of the Naira at 197/$ upon assumption of led to chronic Forex shortages and subsequently, an unnecessary recession.

Buhari thought exchanged rates were dictated by whatever not knowing it is by market forces.

The market still needs to be liberalised further by ending the fixed official rate which only benefit the well connected.

diasporians? never knew that was a word

Pontaboki:
How much did Buharis kinsmen remit home?

Interestingly, I learnt they prefer the Gulf States like Dubai.

So FG dey collect tithe too for money transfer

9.4%
An yet they'll show nothing for it
Yet will label you #Lazy

Nm

50% of that amount were remitted by Edo girls in Italy.



Kudo!

humilitypays:
I said it that if not for Nigerians living abroad and the ever hardworking Nigerian youths engaging in legal online freelance jobs thereby bringing in huge FOREX into Nigeria, the recession would have continued till 2020 or beyond.

Nigerians are very hardworking and creative people. Despite the useless leaders and governments they have had over the years, you can't take away the fact that Nigerians are super hardworking and creative.

But sadly, since 2016, CBN increased the bank charges on funds sent from abroad for no justifiable reason and still we can't see what they use these taxes for.

Sometimes I imagine how great Nigeria would have been if we had visionary leaders who are not selfish, wicked, clanish, tribalistic and corrupt like the government we have in power now, seriously, Nigeria would have been like Australia

Use worldremit.com.

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#NotTooYoungToRun.. All the SUG leaders that are rigging elections in Tertiary Institutions and Stealing money are they not Youths too?

#NotTooYoungToRun is good but make we no go vote for these Youths that are pressing Laptops oo. (If you come here to say is the government that made them to press laptop, i will just report you to Daddy Freeze) i cannot be dragging with you.

The problem is not age. The problem is YOU!

Street takeover���

Una Count GBoys Own Join?

with that exchange rate, I will send all my savings home.

abeg who no want double of his money.

Hardworking Igbo's. They deserve some accolades

Trump go dey vex now.

This government has failed us. We need to kick it out and replace it with a younger and credible leader