NIDCOM Hails CBN Reforms as Diaspora Remittances Triple to $600M Monthly

The Nigeria Diaspora Commission (NIDCOM) highlighted the success of Central Bank of Nigeria (CBN) reforms, with diaspora remittances tripling to $600 million monthly in the past two months. NIDCOM praised CBN's policies, including the introduction of BVN and competitive exchange rates, boosting trust in the financial system.

Governor Olayemi Cardoso expressed optimism that remittances could reach $1 billion monthly by 2026. NIDCOM plans to continue promoting diaspora engagement through events like the Nigerian Diaspora Investment Summit.

The surge in remittances is attributed to CBN's exchange rate reforms.