Central Bank of Nigeria to Attend Remittance Optimization Forum in Houston

39aebcb4aa55f46e44a929a666f25ded 2 Optimizing Remittance Flows: Central Bank of Nigeria to Participate in High-Level Forum in Houston, Texas

In collaboration with NIBSS, Nigerian banks, and IMTOs, the CBN seeks to deepen engagement with the Nigerian diaspora community

HOUSTON, Oct. 19, 2024 — The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), major Nigerian banking institutions, and International Money Transfer Operators (IMTOs), will participate in a pivotal forum titled Optimizing Remittances to Nigeria: A Vision for the Future” in Houston, Texas, on October 20, 2024. This important event brings together key players in the remittance system to talk with the Nigerian diaspora community about ways to improve remittance flows and make Nigeria’s financial sector stronger.

CBN High Level Forum Optimizing Remittance Flows: Central Bank of Nigeria to Participate in High-Level Forum in Houston, Texas

CBN’s broader engagements alongside the IMF & World Bank Annual Meetings, highlights the Bank’s commitment to Nigerians.

This forum is part of the CBN’s larger involvement in the IMF & World Bank Annual Meetings, and it shows the Bank’s dedication to building stronger financial relationships with Nigerians living abroad. It is one of several events the Bank will take part in over the coming months. In a time of significant changes, the CBN is focusing on strategies to use diaspora remittances as a tool to drive inclusive economic growth, financial inclusion, and overall national progress.

Houston, a city known for having the largest Nigerian diaspora population in the United States, plays a crucial role in shaping remittance inflows to Nigeria. The city’s dynamic Nigerian community has made a significant contribution to both the local economy in Houston and to Nigeria’s economic stability through remittances. As a major contributor to Nigeria’s annual remittance inflows, estimated by the World Bank at $20.5 billion over the last decade, the Houston diaspora community is a key partner in Nigeria’s economic growth.

The event will include presentations from senior bank executives, policy discussions on improving remittance channels, and practical ideas for using these flows to support the development of Nigeria. Networking opportunities with important leaders from Nigeria’s financial industry will also be available.

“This forum is a special chance to acknowledge and strengthen the contributions of the Nigerian diaspora, especially the community in Houston, who keep playing a key part in shaping our country’s economic future,” said CBN Governor Olayemi Cardoso. “By working with important partners like NIBSS, our banking institutions, and IMTOs, we want to create a future where remittance flows have a bigger impact for both Nigeria and its diaspora.”

Partnering institutions include NIBSS, Providus Bank, Fidelity Bank, First City Monument Bank, First Bank of Nigeria, Zenith Bank, and United Bank for Africa.

For further information or participation inquiries, please contact Linda Anukwuem at

CBN Forum Houston

SOURCE Central Bank of Nigeria

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