Total direct remittances for 2022 declines by 11.18% to hit $2.16 billion

For the first quarter of 2022, a combined figure of $466,020,865.5 was realised as total remittances for the period.

While giving reasons for the sharp drop in total direct diaspora remittances last year, the apex bank attributed the decline to current global economic challenges caused by COVID-19 and dwindling global oil prices.

The total figure for the value of remittances for the second quarter almost doubled the figures from the first quarter as it climbed to $744,962,563.6.

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