Skip to content 
Nigeria is edging closer to a historic milestone in foreign inflows, with the Central Bank of Nigeria (CBN) projecting that diaspora remittances will hit $1 billion monthly by 2026.
The CBN Governor, Olayemi Cardoso, reaffirmed this at the 18th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on Tuesday.
According to him, the bank has taken deliberate steps to build confidence among Nigerians abroad, including working with leading commercial banks such as Access Bank and Zenith Bank on international outreach.
Meanwhile, President Bola Tinubu has directed financial and capital market regulators to strengthen oversight on Nigeria’s growing use of stablecoins and digital currencies. The President, represented by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, cautioned that the global financial system is experiencing rapid transformation, with more people moving away from traditional banking channels.
