‘Remittance inflow to Nigeria declined by 28% in 2020’

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The World Bank has said that remittance inflow to Nigeria declined by 28 per cent in 2020 due to the COVID-19 pandemic. The bank added that remittance flows fell for Sub-Saharan Africa by 12.5 per cent, according to its Migration and Development Brief 33 Phase 11 entitled: “COVID-19 Crisis Through a Migration Lens’’ published on Thursday. The report said the decline in remittance inflow to Nigeria was largely responsible for the fall in remittance flows to sub-Saharan Africa. “The decline in flows to sub-Saharan Africa was almost entirely due to…

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