The World Bank predicts that inflow of Diaspora remittance to Nigeria will drop by $2 billion in 2020, which is $21.7 billion compared to the $23.8 billion the country recorded in 2019. The World Bank also reported that the decline in remittances from Nigerians living abroad is as a result of the double wave of the COVID-19 pandemic and the attendant economic crisis that has continued to spread.
Globally, the bank also anticipated that the amount of money migrant workers send home would decline by 14 per cent by 2021, compared to the pre-COVID-19 levels in 2019.
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