Nigeria Receives $952m Direct Remittances from Diaspora Nigerians in Six Months

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.