Tag: Remittances
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JAMB defends remittance of operating surplus
JAMB defends remittance of operating surplus
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Nigeria Diaspora remittances declined by 27.7% to $16.8bn – World Bank
Remittances by Nigerians in the Diaspora declined by 27.7 per cent in 2020, the World Bank has said. A report by the World Bank titled ‘Defying predictions, remittance flows remain strong during COVID-19 crisis’ said Nigeria contributed 40 per cent of the remittances into Sub-Saharan Africa. It put remittances to Sub-Saharan Africa at $42bn. Forty…
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Coronavirus: World Bank forecasts historic sharp fall in remittances to Nigeria, others
The World Bank said remittances will decline sharply by about 23.1 percent to sub-Nigeria and other Saharan African nations this year, due to the economic crisis induced by the COVID-19 pandemic and shutdown. Globally, a reduction of 20 per cent has been projected. The projected fall, which would be the sharpest decline in recent history,…
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Diaspora remittances to Nigeria hit $24.3b in 2018
Diaspora remittances to Nigeria stood at $24.3 billion last year. It was the highest remittance to any country in sub-Saharan Africa and an increase of more than $2 billion compared to the previous year’s figure of $22.3 billion. According to the World Bank’s latest “Migration and Development Brief”, immigrants sent $46 billion to their home…
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NNPC not sincere in oil revenue remittances — Governors’ Forum
The Nigeria Governors Forum, NGF, has accused the Nigerian National Petroleum Corporation, NNPC, of shortchanging Nigerians in its remittances to the Federation Account for over five years. The Forum said at the time of high global oil prices that averaged $110 per barrel, NNPC’s remittances to the Federation Account did not reflect the high revenue…