50% of Diaspora Remittances Coming from UK, Says Adesina

Based on a recent post by financial analyst Olumide Adesina on X (@olumidecapital), new data from the Central Bank of Nigeria (CBN) indicates that the United Kingdom accounts for approximately 50% of all diaspora remittances sent to Nigeria.

This revelation highlights the UK’s dominant role in foreign inflows to the Nigerian economy, driven by a large Nigerian population working and studying in the UK.

The data suggests that diaspora remittances remain a key source of foreign exchange and economic support for Nigeria, particularly in the face of fluctuating oil revenues.

The UK’s leading share underscores the strength of ties between Nigerian migrants and their home country, as well as the importance of remittance-friendly policies.

This information aligns with broader trends reported by global institutions such as the World Bank, which place Nigeria among the top African recipients of remittances.