Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso has pledged to look into the high charges on remittances inflow to Nigeria for a robust economy.
Cardoso gave the assurances during a strategic meeting, led by the Chairman/CEO Nigerians in Diaspora Commission (NiDCOM), Mrs. Abike Dabiri-Erewa to the CBN headquarters, in Abuja.
The CBN governor expressed concerns over the staccato status of remittances and assured that investigations would be carried out and necessary actions taken to ensure Nigeria remains the highest receiver of remittances in Sub-Saharan Africa after Egypt.
The 2022 World Bank statistics estimated diaspora remittances to Nigeria at over $22billion.
A statement signed by Gabriel Odu, NiDCOM’s Media, Public Relations and Protocols Unit, said the CBN Governor assured that “any bottleneck to remittances will be taken out.”
He commended NiDCOM’s progress and initiatives under four years and called for deepened synergy between the two organizations.
Earlier, Dabiri-Erewa has lamented on the high tax rate on remittances, noting that Nigeria has the highest rate.
“I believe Diaspora remittances can be improved if the challenges can be looked into and addressed,” she added.
She called on the leadership of the apex bank to partner with NiDCOM in its numerous initiatives.
Mrs. Dabiri-Erewa listed the initiatives to include the National Diaspora Policy, which the CBN is a major stakeholder, Diaspora Data Mapping, Nigerian Diaspora Investment Trust Fund, Diaspora Quarterly Lectures, Badagry Door of Return and Nigeria Diaspora Investment Summit to mobilize and increase Diaspora Remittances.
