Nobody knows how many Nigerians work in Nigeria, and nobody knows how many Nigerians live overseas. Overseas Nigerians send money to Nigeria every month. Some Nigerians boast of a 17-million-strong diaspora, implying that one out of every ten Nigerians lives abroad, but this is undoubtedly exaggerated.
According to a World Bank prediction, remittance flows to Sub-Saharan African nations will decrease by 23.1 per cent to $37 billion in 2020 due to the Covid-19 financial crisis. It dropped 0.5 per cent to $48 billion in 2019. According to the bank, remittances are projected to rebound by 4% to $38 billion in 2021.
What are the Reasons for Nigerians Migrating to European countries?
It is a fact that, by the end of the twentieth century, virtually all urbanized nations had become countries of immigration, with vast numbers of immigrants coming not just from developed areas of the world but also from emerging Third World countries, such as Africa. There are indeed a variety of reasons for people to migrate. For instance, some migrants move to developed countries for money transferred to Nigeria to support family and relatives in their home country. Whatever form of emigration is used, the desire for a brighter future for children’s education and health—remains a common reason.
Remittance to Nigeria, Which Service Provider Should I Use?
There are a number of digital payment suppliers offering online money transfers to Nigeria and offline, each with its own set of advantages. So, how do you figure out which choice is best for you? It is entirely dependent on your individual preferences. Do you prefer to transfer money directly to Nigerian bank accounts? Is cash pick-up your preferred form of payment? Do you want to send money using your cell phone?
ACE Money Transfer offers financial service to over 100 countries from many different sending countries. Since 2002, we’ve been operating in Europe. Ace Money beats all major specialist money transfer providers and banks to convert your money into naira and send it home with the best exchange rates. You can send money to Nigeria online and pay with a credit card or your suitable method.