The Central Bank of Nigeria (CBN) has a target of doubling diaspora remittance inflow within this year.
CBN governor,Olayemi Cardoso stated this while responding to questions from journalists at the end of the 295th Monetary Policy Committee (MPC) meeting of the bank.
He disclosed that a taskforce monitoring the international money transfer space that reports directly to him, was already in place.
Cardoso noted that remittance inflow is estimated to represent about 6 per cent of the country’s GDP and the new licensing of 14 International Money Transfer Operators was geared towards increasing competition in the remittances industry.
He expressed confidence that the taskforce will achieve it’s mandate, noting that it was making good progress.
