Chris Ugwu WorldRemit, a global digital payments company, has announced the launch of its new zero percent pricing for international transfers to Nigeria. The new lowered price allows customers to send more to family and friends in Nigeria with absolutely no fees and FX margins. According to the digital firm in a statement, the major price drop forms part of a new pricing restructure and represents the largest pricing reduction in terms of the number of corridors for the business.
The new zero per cent pricing is in line with WorldRemit’s commitment to supporting remittance flows to Nigeria and helping the diaspora community to supplement and support family and friends back home.
“The Economist reported in 2018, remittances to Nigeria totaled USD 24billion while the Nigerian Federation Account reported receipts from crude oil sales, tax and custom collections totalling approximately USD 10.8billion. “This shows that the greatest export of Nigeria is actually Human Capital and not Oil. Through its innovative service offering, WorldRemit customers have been able to support family and friends with essentials, medical and educational needs,” the company noted.