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.
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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.
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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
