Fidelity Bank Plc has
predicted that there will be rise in diaspora remittances to Nigeria in 2016
despite the economic challenges being faced by the country due to slump in
global oil prices.
It predicted that
remittances from Nigerians living abroad would rise to $35 billion in 2016,
making Africa’s most populous country, one of the largest recipient of
remittances globally.
Speaking at a prize
presentation ceremony held in Enugu, the bank’s Executive Director, South, Aku
Odinkemelu, was quoted in a statement to have revealed that despite the
slowdown in economic activities, diaspora remittances has continued to grow.
Odinkemelu, who pointed out
that Nigeria can take advantage of the enormous, but untapped financial
reservoir from the diaspora to weather the current economic storm, recognised
the growing potential of this market segment in the South-east region.
At the ceremony, the bank
presented a brand new Kia Rio car to a lucky customer, Malachy Igbodo, the
winner of the bank’s MoneyGram Promo.
Fidelity Bank ED said the
promo was intended to acknowledge the massive contributions of the South-east
region particularly as it relates to boosting diaspora remittances and other
capital inflows into the Nigerian economy.
Odinkemelu noted that the
performance of the financial institution in the region was second to none.
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