The Central Bank of Nigeria says it is targeting a diaspora reserve of one billion dollars by 2026. The figure currently stands at 600 million dollars.
Governor Olayemi Cardoso announced the target at the 18th annual banking and finance conference of the Chartered Institute of Bankers of Nigeria in Abuja.
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He said the framework to achieve the goal has been set up and urged banks including Zenith, Access and Fidelity to drive the process.
Diaspora remittances through international money transfer operators reached 4.22 billion dollars between January and October 2024, a 61 percent rise on the previous year.
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