UK Group Seeks Cost Reduction In Diaspora Remittance
Dr Bola Karimu- led delegation of UK in Nigeria Private Sector Development Adviser of the British High Commission in Abuja has called on Nigerians in Diaspora Commission (NiDCOM) as a stakeholder to partner on more inclusive Diaspora Remittances.
NIDCOM in a statement issued by Gabriel Odu on Tuesday in Abuja said the advice was given during a visit to top Management and Staff of the Commission headed by Hon. (Dr) Abike Dabiri-Erewa, in Abuja.
The group through Policy Advocacy is involved in economic development, good governance and more inclusive diaspora remittances by partnering with the Central Bank of Nigeria, (CBN).
Part of their concerns are, reduced cost of sending remittances and the long end-to-end process of sending remittances.Receiving the delegation, Hon. Abike Dabiri-Erewa, welcomed the partnership and assured them of her commitment towards eliminating all remittance constraints and ensuring smooth transfer of money from not just UK but all over the globe to Nigeria.
Meanwhile, Hon. Abdulrahman Terab, Head of the Commission Technology Transfer and Innovation,(TTI), explained that remittances pass through various stages from initiation in the host country to receiving it back home with numerous options for the sender to choose a service they desire.
He further stated that cutting down the channels of sending remittances will not solve the problem rather, cutting down the charges and opening the market for other stakeholders will be better.
Terab, further said that it will allow recipients to get value at the market rates and ease remittance transaction especially from the Middle East and Asian Countries.
