The Nigerians in Diaspora Commission (NiDCOM) has attributed the recent surge in diaspora remittances to policy reforms by the Central Bank of Nigeria (CBN) and renewed trust in the country’s financial system among Nigerians abroad.

In a statement on Monday, NiDCOM Chairperson, Abike Dabiri-Erewa, described the contribution of the diaspora community as significant, noting that remittance inflows had tripled in the last two months. Figures from the CBN indicate that inflows rose to about $600 million monthly, compared to previous averages of $200 million.

Dabiri-Erewa commended CBN Governor Olayemi Cardoso for introducing measures such as the Non-Resident Bank Verification Number (BVN) and a more competitive exchange rate, which she said encouraged the use of official remittance channels. She added that NiDCOM would sustain initiatives like the Nigerian Diaspora Investment Summit, National Diaspora Day, and other engagement platforms to strengthen contributions from Nigerians overseas.

Sharing Cardoso’s optimism that inflows could hit $1 billion monthly by 2026, Dabiri-Erewa praised the patriotism of Nigerians in the diaspora, stressing their role in supporting national economic growth.

Meanwhile, Cardoso, speaking at the Delta State–Brazil Business and Investment Roundtable in São Paulo, highlighted the success of reforms designed to simplify remittance processes and improve formal transfer systems. He said the rise in inflows reflects growing confidence in the Nigerian financial system and the potential of diaspora contributions in stabilizing the economy.

Both officials emphasized that the steady increase in remittances demonstrates the diaspora’s critical role in strengthening Nigeria’s economic resilience.