A proposed U.S. bill seeks to impose a 5% tax on remittances sent abroad, potentially affecting millions of Nigerians who rely on funds from relatives overseas. The move adds to growing concerns over shifting U.S. immigration and economic policies.
- U.S. lawmakers plan a 5% tax on international remittances, excluding verified American citizens.
- Over $4.2 billion in diaspora funds entered Nigeria via IMTOs between Jan–Oct 2024.
- The bill forms part of broader U.S. economic reforms, including recent tariff hikes and immigration actions.
Many Nigerian families depend on remittances from loved ones in the U.S. for daily survival, education, and healthcare. A tax burden could reduce inflows and stretch already strained household budgets, especially amid Nigeria’s rising cost of living.
