When you make a money transfer to a Nigeria bank account, of course you are helping the recipient of the funds, first and foremost. Whether that’s a parent, sibling, child, another relative or a friend, receiving a money transfer from the United States, Canada or the United Kingdom can help provide funds to meet everyday expenses or to meet a specific financial need. But, did you know that money transfers to Nigerian bank accounts also help the greater Nigerian economy and the economy of Africa? It’s true! Every dollar you put into the Nigerian economy helps Africa.
Global Remittances Can Be More Helpful than Other Forms of Aid
Africa Development Bank (AfDB) is working to boost the amount and number of remittances into Africa. Recognizing that more remittances into African countries can be a powerful tool to aid in critical infrastructure and other development, the AfDB also sees international money transfers as a way to shelter Africa from lower commodity prices or other external events.
With the value of remittances into Nigeria and other African countries projected to be in positive territory for 2017 and 2018, those money transfers may eclipse the amount of Overseas Development Aid sent to the continent by donors around the world. While grants and other international aid unquestionably help people, there is a concern that reliance on such aid just perpetuates the cycle of poverty and dependence.
Part of the AfDB initiative involves revamping policies and procedures in an attempt to encourage expatriates to invest in their home countries in Africa, rather than simply providing money to their loved ones to pay rent or to buy food. While those remittances help, larger investments would provide a bigger benefit, helping foster intra-African trade.
Help Your Loved Ones and the Greater Nigerian Economy Through a Ping Express Money Transfer
When you make a money transfer to a Nigerian bank account, you are helping to provide the funding the continent needs to facilitate trade, increase opportunities and help residents thrive and succeed.
Ping Express understands the value of money transfers to Nigeria. Because Ping Express is an online and mobile-based business, we do not have the expensive overhead costs that can come with maintaining a physical business location. That allows us to keep the cost of sending money to Nigeria low, so you can send more money to help the greater African economy.
We also offer a simple process for making money transfers to bank accounts in Nigeria. In fact, you can send money any time – day or night – using your own smartphone, tablet computer or other device.
Ready to get started helping the African economy by sending money to a Nigerian bank account? If so, start by watching our short “How it Works” video. Then, download our Android or Apple mobile application. You’ll be ready to make your first money transfer to Nigeria in just moments. If you still have questions, contact us online anytime.