WorldRemit Expands Instant Money Transfers in Nigeria

WorldRemit, the global money transfer app, today introduces instant transfers to Nigeria. In addition to its same-day bank transfer service, WorldRemit now allows people to send money to more than 140 cash pickup locations in Nigeria, instantly.People in more than 50 countries can use the app to send to Nigeria. Recipients can collect money instantly from 140 branches of Skye Bank.

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Sending cash home: mobile money is a gamechanger

Remittances – money sent home by people working abroad – are hugely important in developing countries. In Burundi, they are vital.
Two thirds of this small African nation’s population live on less than $190 a year, so this cash plays a significant role in smoothing volatile, often vulnerable, incomes. The average remittance-receiving family relies on funds from relatives abroad for 61% of household expenditures.

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The man changing the world of remittances

In the years following the attacks of 11 September 2001, it is not surprising that Western security forces and authorities clamped down hard on the money transfer industry. Fearful that some remittances being sent to countries in eastern Africa, the Middle East and South Asia could be being used to fund terrorist activities, a number of smaller money transfer companies were shut down.

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