The Central Financial institution of Nigeria, CBN, says Diaspora remittances surged by 433 per cent to $1.3 billion in February from $300 million in January.
The Appearing Director of Company Communications at CBN, Hakama Sidi Ali, disclosed this on Thursday.
She famous that overseas traders’ curiosity in Nigeria surged throughout the interval referenced.
“The Financial institution’s knowledge signifies that abroad remittances rose to US$1.3 billion in February 2024, greater than 4 occasions the US$300 million obtained in January,” she mentioned.
Recall that CBN Governor, Olayemi Cardoso, throughout the 293rd Financial Coverage Committee assembly, detailed a plan to tame inflation, overseas disaster and different measures, together with elevating rates of interest to 22.75 per cent.
