Cardoso says current reserve is $600m, urges banks to drive growth.
The Central Bank of Nigeria (CBN) has set a target to grow its diaspora reserve to one billion dollars by 2026.
CBN Governor Olayemi Cardoso disclosed this on Tuesday at the 18th Annual Banking and Finance Conference organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja.
He noted that the current reserve stands at $600 million and that a framework is already in place to achieve the goal.
“It is now over to the banks to make this happen. I am taking a special interest in this thing, and I want that to continue because it makes a huge difference on how our people in diaspora see us,” Cardoso said.