Posted by: beninmwangi | March 23, 2007

Nigeria targets $20-billion Diaspora remittances

From Nigeria…

Nigeria targets $20-billion Diaspora remittances: “…The Nigerian economy will attract an average of $20-billion Diaspora remittances in the five years between 2006 and 2010.

Indications to this emerged from the governor of the Central Bank of Nigeria (CBN),Chukwuma C. Soludo’s recent pronouncement in Abuja that Diaspora remittances bring about $4 billion yearly.

The CBN governor who also said that foreign direct investments (FDI) and portfolio inflows were growing, while bonds were over subscribed due to high earnings in real dollar terms, revealed that capital inflows were doubling every year with about $2.5-billion recorded in 2006 from portfolio and non-oil sectors…”


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