Diaspora Nigerians add to $35bn remittances with Transfast

Nigerians in Diaspora who remitted about $35 billion back home in 2016 are now able to easily send more money to the country and further add to the nation’s Gross Domestic Product (GDP) with Transfast payment and remittance solutions provider.
The company, which has its presence in over 120 countries around the world says it is rolling out expansion plans for Nigeria by partnering with top tier banks such as Ecobank, Skye Bank, Firstbank, Access bank, Zenith bank, Guarantee Trust Bank, Heritage Bank and others to allow expatriates across the world send money to Nigeria.
Samir Vidhate, Transfast’s director for Europe, Middle East, Africa and Asia (EMEAA) said that, as a global player in payment processor and funds transfer, Transfast understands the vital lifeline provided by remittances being sent back to Nigeria.
He said the company is working daily to drive greater awareness of its service to Nigerians living and working abroad.
“We are committed to the region and will be closely partnering with banks for continued growth,” Vidhate said.
The company, which recently signed a partnership agreement with Ecobank said that Nigerians working in other countries can send money at any of Ecobank’s wide branch network, in local currency, direct to the beneficiary’s bank account 24/7, or for cash pick-up at more than 3,500 payout locations in Nigeria.
Abike Dabiri Erewa, Senior Special Assistant (SSA) to the President on Foreign Affairs and Diaspora Matters said that; “although the $35 billion remitted last year is the highest in Africa and the third largest in the world remittance by Nigerians living abroad, more needs to be done to encourage even more remittances.”

 

Jumoke Akiyode