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CBN engages diasporan Nigerians at IMF meeting to boost remittances, investment Credit: X| cenbank
The Central Bank of Nigeria hosted a high-level roundtable at the 2024 IMF and World Bank Annual Meetings to connect with Nigerians abroad.
This was disclosed in a statement and photos shared on the CBN’s official X handle on Saturday.
The gathering reportedly aimed to foster stronger ties with the diaspora and unlock potential for economic growth and financial inclusion through remittances and investments.
The statement read, “This week, the CBN took a significant step in engaging Nigerians abroad through a high-level roundtable during the 2024 IMF and World Bank Annual Meetings.
“The roundtable focused on strengthening ties with the diaspora to drive economic development and financial inclusion through remittances and investments.
“It convened policymakers, business and thought leaders from the diaspora, Nigeria’s financial sector, International Money Transfer Operators, investors, and others.”
Discussions reportedly centred on the CBN’s vision to transform remittance inflows from short-term consumption to sustainable, long-term investments in sectors such as infrastructure, power, healthcare, and agriculture.
The statement added, “As part of the Bank’s deepening engagement with the diaspora, the CBN, in collaboration with NIBSS, introduced the Non-Resident Bank Verification Number (NRBVN), set to launch in December.
“The NRBVN will enable Nigerians living abroad to complete Know Your Customer (KYC) processes remotely, aiming to simplify access to banking services while adhering to the highest global AML best practices.”
PUNCH reports that the CBN has launched a series of engagements with the Nigerian diaspora to optimise remittance flows into the country.
The CBN Governor, Olayemi Cardoso, also said Nigeria is considering launching a diaspora bond in the United States as part of its strategy to achieve monthly remittance inflows of $1bn.
See photos below
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