The Governor of the Central Bank of Nigeria, Godwin Emefiele, on Thursday, said the target of the CBN is for the country to attract about $2bn monthly as remittances from citizens in diaspora. Emefiele’s position is coming after the apex bank introduced its new Diaspora Foreign Exchange Remittances Policy.
The CBN boss told journalists during a press briefing on the new policy in Abuja that countries that had similar demographic features with Nigeria, such as Pakistan, often received about $2bn monthly from their citizens in diaspora.
He said, “I’m aware from the data available that, for instance, Pakistan, even in the midst of COVID-19 receives $2bn monthly from flows from Pakistani in diaspora…
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