The Chairman of the Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa, has lauded the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, for introducing the non-resident accounts.
Henzodaily reports that the apex bank introduced the Non-Resident Nigerian Ordinary Account (NRNOA) and the Non-Resident Nigerian Investment Account (NRNIA) to aid Nigerians in the diaspora’s investment in the country.
NRNOA allows diaspora Nigerians to remit earnings such as salaries, dividends, and rental income into accounts held in freely convertible currencies.
Also, the NRNIA provides non-resident Nigerians with a variety of investment opportunities, including local and foreign currency assets such as government bonds, equities, and fixed deposits.
In a statement on Thursday from the Commission’s spokesman, Abdur-Rahman Balogun, Dabiri-Erewa said the move was a strategic initiative to enhance diaspora engagement and bolster Nigeria’s economic growth.
Dabiri-Erewa emphasized the pivotal role of diaspora remittances, noting its status as the highest source of foreign exchange to Nigeria, which surpasses oil revenues.
She further highlighted the importance of strategic engagement with the diaspora community, stating, “Nigerians, home and abroad, must join hands to develop Nigeria, as no foreigner will do this for us“.
The NiDCOM Boss urged Nigerians in the diaspora to leverage these new financial packages.
She also commended the CBN’s proactive approach in strengthening ties with the diaspora, citing recent engagements towards optimizing remittances and boosting the country’s finances.
The Chairman, NiDCOM, expressed optimism that the launch of the NRNOA and NRNIA would help increase economic contributions from Nigerians worldwide.