NIGERIANS LIVING ABROAD REMITTED $21BN IN 2014 —WORLD BANK

The World Bank has disclosed that Nigeria received a total of $21 billion from its citizens living abroad as home remittance in 2014 saying that growth of remittance is expected to slow this year.
This fact is contained in the latest issue of the World Bank’s Migration and Development Brief, released in Washington at the ongoing Spring Meetings of the IMF/ World Bank Group. It said that officially recorded remittances to the developing world are expected to reach $440 billion in 2015, an increase of 0.9 percent over the previous year.
Global remittances, including those to high income countries, are projected to grow by 0.4 percent to $586 billion.
It said “The top five migrant destination countries continue to be the United States, Saudi Arabia, Germany, Russia and the United Arab Emirates (UAE) while the top five remittance recipient countries, in terms of value of remittances, continue to be India, China, Philippines, Mexico and Nigeria.
The release said “Nigeria alone accounts for around two-thirds of total remittance inflows to Sub Sahara Africa, but its remittances are estimated to have remained flat in 2014, at roughly $21 billion”.