The Digest: The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has announced that diaspora remittance inflow has surged from $200 million to $600 million monthly.
Key Points:
- CBN Governor Olayemi Cardoso announced a surge in diaspora inflow.
- The monthly inflow increased from $200 million to $600 million.
- He credited the increase to the CBN's new FX policies.
- He said critics had initially laughed at the reforms.
- The CBN projects the monthly inflow to reach $1 billion by next year.
- Nigerians in the diaspora now have more confidence in FX channels.
- The Naira recently appreciated against the dollar.
The increase shows that Reforms Rewarded. It signals growing confidence in Nigeria’s official FX channels and provides a vital boost to the economy.
Sources: Daily Post
