According to the research, the country received an estimated $21 billion in remittances, making it the largest recipient market in Africa and the ninth largest in the world.
Remittances are anticipated to rise in 2023 as a result of price increases, but both senders and receivers will be impacted by this general increase. But they have a problem: 75% of them, including 84% of senders between the ages of 18 and 24, claim that the current state of the world economy prevents them from sending as much money as they formerly did.
It also demonstrated how widely used digital money transfer services were in the nation. The business observed that its Nigerian customers demanded more innovation from money transfer providers to support their remittance needs.