The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has stated that the bank aims to double diaspora remittance inflow within this year.
He stated this while responding to questions from journalists following the 295th Monetary Policy Committee (MPC) meeting of the bank where he stated that there is already a taskforce monitoring the international money transfer space that reports directly to him.
According to Mr. Cardoso, remittance inflow is estimated to represent about 6% of GDP and the new licensing of 14 International Money Transfer Operators was geared towards increasing competition in the remittances industry.