Economy

Nigerians Residing in UK Top List of Diaspora Remittances – World Bank

Nigerians in the UK have emerged the highest senders of money to their home country with £3.27m being sent in 2017.

According to a World Bank report, Nigeria was the top receiver of cash from the UK, followed by India, France and Pakistan, reports Daily Mail.

This makes the UK the fourth largest source of remittances after the US, Saudi Arabia and the United Arab Emirates, with a global total of some £483bn in 2017.

While migrants in the UK were sending large amounts of cash back home, Australia was the largest sender of remittances to the United Kingdom, with US$1.08m being received from there.

The US, Canada, Spain and South Africa were the next biggest senders to the UK.

The World Bank report revealed that, India is the largest receiver of remittances in the world, receiving a total of US$68,968m.

China is the second largest receiver of remittances, after India, receiving a total of US$63,860m.

The US is home to the largest number of migrants from developing countries and is the largest sender of remittances in the world.

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