Nigeria is one of the most connected countries in the world when it comes to receiving and sending money, according to The Western Union Company, a global leader in payment services.
Reports revealed, more than 195 countries and territories sent money into Nigeria, and 160 received money from Nigeria in 2015 reflecting the extraordinary global connections brought about by the rise in migration of Nigerians to many parts of the world.
Regional Vice President of Western Union Africa , Aida Diarra said, “It is an honor to have served Nigerians for the past 20 years and connect them to and from nearly every corner of the world, moving 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 recognizes 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,” Diarra added.
According to the World Bank, Nigeria is the fifth largest remittance receiver globally. Migration destinations have remained steady since a decade ago, according to Western Union’s own trend analysis. The US, the UK, Italy, Canada, Germany, Australia, France and Netherlands continued to be the favorite destinations while United Arab Emirates and Malaysia moved to the top 10, replacing Switzerland and Spain.
Meanwhile, Western Union has bridged geographical gaps by diversifying the options to send and receive money with reliability, convenience, and speed. From a single location with the First Bank of Nigeria in the heart of Lagos in 1996, Western Union has expanded its walk-in retail Agent location count to more than 5,200 with a presence in every one of Nigeria’s 36 states.
The company’s channel diversification focus also allows Nigerians to receive money into 2.2 million mobile wallets and into more than 50 million bank accounts. More than 20 majority-owned Nigerian businesses form the foundation of an Agent network that connects Nigerians no matter what distance exists between them and the world.
