Personal remittances include sent money to Nigeria as employees benefits. All current cash or in-kind transfers made or obtained by resident households or nonresident households are classified as personal transfers. As a result, personal transfers encompass all existing transfers between residents and nonresidents.
Employee compensation applies to the earnings of the full time, seasonal, and other short-term workers working in a nonresident economy, as well as residents working by nonresident organizations. Personal transfers and employee compensation are the amounts of two things specified in the sixth edition of the IMF’s Balance of Payments Manual.
Through their labour, skills transfer, production, and expenditures, African migrants contribute to economic growth and development in destination, transit, and origin. Their money transfers to Nigeria and other neighbouring countries contribute significantly to food security, human resources, rural growth, and total Gross Domestic Product (GDP).
What Are The Issues For Asylum Seekers In The UK? Do They Support in Home Countries?
In the past few years, a growing number of African immigrant community groups have ‘settled’ in major UK cities and towns outside of London. This is due in part to the government’s implementation of a dispersal scheme for new asylum seekers around the UK and a housing crisis in the capital. These African refugees and asylum seekers arrived in the UK after fleeing political and religious repression in their home countries and long periods of conflict. The dynamic problem of adapting to the local culture and economic norms is one of their difficulties. Despite living in the UK, these asylum seekers find a job and send money to Nigeria online and other services to support families.
Why People Risk Their Lives To Reach UK?
People risk their lives to enter the United Kingdom for a variety of reasons, which are usually divided into categories:
- Work: Most immigrants look for a job to transfer money to Nigeria online and support the family.
- Study: Go to the UK for higher studies.
- Asylum or refugee resettlement: Due to poverty and unemployment, people want to move to the UK as permanent citizens.
Since it is difficult to apply for citizenship in the UK unless you are already in the country, many people prefer to risk their lives by crossing the Channel. The UK has the right under a long-standing European Union agreement known as “Dublin III” to turn back those seeking asylum if they may have legitimately claimed it in another country along the way.
Unless a similar agreement is reached, this deal will end in January, when the Brexit implementation period expires. Other newcomers may have a stronger argument for asylum in the UK if they have family already living here.