Nigeria: Report – Phillipines, Nigeria Top Remittance Recipients Globally

Omolabake Fasogbon

A new report on remittance inflows across the globe has listed Philippines and Nigeria as top remittance recipient countries worldwide.

The report published by WorldRemit ranked Philippines as the most common country receiving remittance, accounting for 18 percent .

Nigeria came second on the list with 11.5 percent while Ghana came third with 10.5 percent .

The report which is made available to THISDAY observed that a number of senders particularly in United States of America, United Kingdom and Canada were adjusting their remittance habits in recent times due to COVID-19.

According to the report, the habit of senders has significantly affected the amount of money sent from abroad, particularly for the key reasons people send money abroad.

The report identified daily expenses, gifts, medical expenses and education as the most common reasons why people send money from abroad.

Presenting the report, Head of UK at WorldRemit, Karen Jordaan said, “The result of our study of more than 3,000 of our customers paint a striking picture of the importance of remittances to the loved ones of immigrants, alongside the impact we know it has on the global economy. 68% of respondents sent money abroad at least monthly, with a further 28% sending multiple times a year”

Jordaan noted further that the organisation is also adjusting it services to suit the challenges of consumers as revealed by the study.

“We understand the unique challenges migrants face on a day-to-day basis when supporting loved ones overseas, whether it be helping to ensure their family members get access to medical care or have money to pay for basic cost of living expenses.

“WorldRemit understands the needs of our customers and strives to offer a safe, fast and convenient service. We are also encouraged by our customers and how they are investing in the future, namely education and new business ventures.”

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