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Nigerians send nearly €500m a year home from Ireland

BrianBoru

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NIGERIAN migrants here are now sending nearly half-a-billion euro back home each year. World Bank figures reveal that €468m in 'remittances' was sent from Ireland to Nigeria in 2011.
That's an average of more than €26,000 for each of the 17,642 Nigerian nationals in Ireland, including children.


This is far in excess of the sums sent home by Poles from Ireland. They sent $224m (€174m), even though there are more than 122,000 Polish people in the country.

The issue will be raised during a Dail debate this week on the Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) that are being rushed through in advance of the forthcoming G8 summit in Enniskillen, Co Fermanagh next month.


Fianna Fail's justice spokesman, Niall Collins, will raise the issue of Nigerian remittances with Justice Minister Alan Shatter.

He said: "It raises a number of questions. There may be legitimate and valid reason for the extremely large amounts of money being sent from Ireland to Nigeria, compared with the amounts sent by other nationalities.


"On the face of it, it has to be questioned. I will be asking the minister to investigate and find out why."

Monies sent from Ireland by foreign migrants are three times higher than the amount of money being sent home to Ireland by the Irish abroad.


World Bank statistics show that Irish people living in other countries sent more than $750m (€560m) back home in 2011, but foreign workers here sent remittances of $2.4bn (€1.8bn) home during the same year.

The largest amount of money leaving Ireland was to Britain, at over €529m in 2011. This was followed by Nigeria (€468m) and Poland at (€174m).
Nigerians send nearly €500m a year home from Ireland - Independent.ie

Was this ever explained? Staggering amounts of money considering the unemployment rate for Nigerians in Ireland.

However, the employment rate varied across national groups and was “very low” for African nationals (about 40 per cent).
Number granted Irish citizenship in 2015 half that of peak
 

Tadhg Gaelach

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Doesn't surprise me. I was reading an article in Metro Éireann that said one of Nigeria's "top bankers" had moved to Ireland to help with moving money from Ireland to Nigeria. It must be a "thriving business" if "top bankers" are needed to ferry all the loot.
 

Kershaw

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Nigerians send nearly €500m a year home from Ireland - Independent.ie

Was this ever explained? Staggering amounts of money considering the unemployment rate for Nigerians in Ireland.



Number granted Irish citizenship in 2015 half that of peak
IIRC when this was discussed before after a TD brought it up in the Dáil, there was some talk that the numbers were inaccurate,
But if they are true, I don't think it's possible Nigerians could send home that amount so perhaps Nigerian banks are acting as middlemen to send the money other places and it is being sent by more than just Nigerians.
 

Kershaw

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Doesn't surprise me. I was reading an article in Metro Éireann that said one of Nigeria's "top bankers" had moved to Ireland to help with moving money from Ireland to Nigeria. It must be a "thriving business" if "top bankers" are needed to ferry all the loot.
HAHA!
See if you can find a link Tadhg.
 

Tadhg Gaelach

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HAHA!
See if you can find a link Tadhg.

I'll have a look - though I was a bit suspicious when the top banker in question was wearing a t-shirt and sitting in front of a computer that seemed to be situated in a bedsit - though he claimed to be doing business with all of Ireland's top banks.
 
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