New data has rated Nigeria the largest remittance receiving country in Africa, even as citizens living abroad sent home a record $25billion (N9 trillion) in 2018.
The data, from WorldRemit, a leading on-line money transfer service, showed that as remittances continue to grow, digitally-savvy Nigerian women abroad are sending more money home and are making an increasing contribution to the country’s development.
WorldRemit, in partnership with Access Bank, are poised to celebrate the contribution Nigerian women living and working abroad make to their home country, with new data revealing that the gender gap for sending digital remittances to Nigeria is rapidly closing.
The New WorldRemit research further revealed that the proportion of females sending digital money transfers to Nigeria through WorldRemit has grown by 10 percent within the last five years. Also, it disclosed that 37 per cent of WorldRemit’s customers sending to Nigeria are female, compared to 27 percent in 2014.
The United Nations (UN) estimates that over 46 percent of Nigerian migrants are female, with the majority living in the United Kingdom, and United States of America. Money sent from mothers, sisters and aunts living abroad help millions of families in Nigeria pay for essential needs such as healthcare and education.
WorldRemit enables the Nigerian Diaspora to send money home in a few taps from their phones without having to travel to an agent, lowering costs and increasing speed and convenience.