Nigeria Leads In Foreign Remittances – Western Union

Western UnionWestern Union has declared Nigeria as one of the most connected countries in the world when it comes to receiving and sending money.

Aida Diarra, Regional Vice-President, Africa, Western Union made the declaration in a statement on Monday. She said it moved money from over 195 countries and territories into Nigeria in 2015.

“More than 195 countries and territories sent money into Nigeria, and 160 received money from Nigeria in 2015. This reflects the extraordinary global connections brought about by the rise in migration of Nigerians to parts of the world.”

20-years Of Western Union

Diarra also disclosed that the company has operated in Nigeria for 20 years.

“It is an honour to have served Nigerians for the past 20 years and connect them to and from nearly every corner of the world. We have moved the money that funds education, healthcare, everyday living and the dreams and aspirations of their families.”

“The Nigerian spirit of hard work and resilience can be found around the world across all economic spheres.”

“Western Union recognises that, at the start and end of every transaction are two people, and they rely on each other, just as much they rely on us to move their money reliably.”

“It is this dual belonging that remains at the heart of our innovation to make it easy for Nigerians to send or receive money,”

Market Leader

Western Union bridges geographical gaps by diversifying the options to send and receive money with reliability, convenience, and speed.

Western Union has expanded its walk-in retail agent location count to more than 5,200. From a single location in Lagos in 1996 with the First Bank of Nigeria Limited. It now has presence in all the 36 states of the federation.

The company’s channel diversification focus also allows Nigerians to receive money into 2.2m mobile wallets. Also, money can be received through more than 50 million bank accounts.

Meanwhile, according to the World Bank, Nigeria is the fifth largest remittance receiver globally. Western Union’s own trend analysis shows that migration destinations have remained steady since a decade ago.

The United States, United Kingdom, Italy, Canada, Germany, Australia, France and Netherlands are Nigerians’ favourite destinations. United Arab Emirates and Malaysia have also moved to the top 10, replacing Switzerland and Spain.

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