National office
Agency report
The remittances by Nigerians abroad to their relatives, associates and concerns dropped by 21 per cent within the first half of 2023.
Data released by the Central Bank of Nigeria has revealed that the country received a total of $952 million as direct remittances from Nigerians abroad between January and June this year.
The apex bank disclosed this in its International Payment just released.
The half-year 2023 remittances, however, represent a 21% decline compared to the $1.210 billion recorded in the same period last year.
A monthly breakdown of the data showed that Nigeria recorded $79.2 million in remittances in January 2023. In February, total remittances increased slightly to 83.8 million, while $138.6 million was recorded as total direct remittances in March.
In April, the country received $150 million as direct remittances, while the inflow increased to $202.9 million in May. For June 2023, total direct remittances to the country stood at $297.5 million.
Credit: Nairametrics
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