Page 63 - புலம்பெயர் வாழ்க்கைத்தொழில்கள் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Vanguard News Remittances, diaspora and development By Obadiah Mailafia EARLY in the month, CBN Governor Godwin Emefiele announced a new directive on Diaspora remittances. The new directive allows all recipients of remittances to collect their funds in dollars. They are also free to keep such funds in domiciliary bank accounts and to withdraw them in the same denominations at any time. The directive is aimed at creating a more attractive environment that encourages Nigerians abroad to wire money home. This comes at the wake of dollar shortages that have been persistent for much of this year, culminating in the recent fall of the naira in the parallel market. In recent weeks, our currency has exchanged at a worrisome N500/US$ in the parallel market, as against the N395/US$ official rate. Of recent, remittances have also been declining. Over the last couple of years remittance inflows averaged about $5billion a quarter.

United statesDeng xiaopingDietmar meierAddis ababaNana akufoAdela sheraObadiah mailafiaGodwin emefieleDiaspora commissionWestern unionAfrican unionDepartment for diaspora affairsEconomic developmentCommission for asiaKindly share this storyEast european