The Central Bank of Nigeria (CBN) has set an ambitious goal of establishing a diaspora reserve of $1 billion by the year 2026.
This announcement was made by CBN Governor Olayemi Cardoso during the 18th Annual Banking and Finance Conference, hosted by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on Tuesday.
Currently, the diaspora reserve is reported to be at $600 million.
Governor Cardoso emphasized that the CBN has developed the necessary framework and taken all required steps to achieve this target by the specified date.
He stated, “The responsibility now lies with the banks to realize this goal. I commend all participating banks, including Zenith, Access, and Fidelity, among others, for their efforts.”
He expressed his commitment to this initiative, highlighting its significance in shaping the perception of the Nigerian diaspora towards their home country.
The two-day conference is themed “The New Economic Playbook: The Intersection of Banking, Policy, and Technology.”
(NAN)
