World Bank Says Nigeria, Other African Countries Record $49B Remittances in One Year

World Bank Says Nigeria, Other African Countries Record $49B Remittances in One Year

May 29, 2022 7 Views


The World Bank says remittance inflows to Nigeria and other Sub-Saharan African countries soared 14.1 per cent to $49 billion in 2021 following an 8.1 per cent decline in the prior year.

According to the World Bank’s latest Migration and Development report recorded inflows showed that Nigeria was the largest recipient country in the region, gaining 11.2 per cent, in part due to policies intended to channel inflows through the banking system.

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