REUTERS
Nigeria is considering a diaspora bond in the United States next year and is targeting remittance inflows of $1 billion a month, its central bank chief told Reuters on Thursday.
Central Bank Governor Olayemi Cardoso said Nigerians abroad are keen to invest and have already more than doubled the remittances they send home since the current government began sweeping reforms last year.
As a result, a diaspora bond in the United States, home to the largest group of overseas Nigerians, “could be on the horizon” in 2025, Cardoso said in an interview on the sidelines of IMF and World Bank meetings in Washington, D.C. The Finance Ministry would manage a bond issuance.
“They really want to invest … beyond just financially,” Cardoso said of Nigerians abroad.
“Our currency has now become extremely competitive and cheap. So they see the opportunity of taking positions in assets back home and in businesses back home.”
