Dabiri-Erewa Lauds $600m Boost in Diaspora Remittances

By Adedapo Adesanya

The chief executive of the Nigerians in Diaspora Commission (NIDCOM), Mrs Abike Dabiri-Erewa, has attributed the recent increase in diaspora remittances to the economic reforms of the Central Bank of Nigeria (CBN).

She also said it indicated the presence of  trust and confidence that Nigerians in diaspora have in the system, according to a statement issued by the agency’s spokesperson, Mr Abdur-Rahman Balogun, in Abuja on Monday.

She described the boost to Nigeria’s economy from its diaspora community in recent times as “humongous”.

Diaspora remittance inflows tripled to $600 million monthly over the past two months, according to statistics from the central bank.

Mrs Dabiri-Erewa appreciated the apex bank under the leadership of Olayemi Cardoso, whose various policies she said have led to the upsurge in remittances, including the introduction of the Non-Resident BVN and an exchange rate which, according to her, encouraged more formal channels of remitting funds.

Sharing the CBN Governor’s optimism that the figure could reach $1 billion per month by 2026, Mrs Dabiri-Erewa said NiDCOM would continue to propagate activities like the Nigerian Diaspora Investment Summit, National Diaspora Day, Diaspora Youth Summit and constant engagement with the diaspora wherever they are.

The NIDCOM boss also commended the trust and the patriotism of Nigerians in diaspora, adding that the President Bola Tinubu’s administration is determined to improve the welfare of Nigerians at home and abroad.