Source: mircoLINKS Connections (a publication of the US Agency for International Development (USAID)).
Original article available here.
“Remittances, Competition and Fair Financial Access Opportunities in Nigeria,” by Manuel Orozco of the Inter-American Dialogue and Bryanna Millis of DAI, explores the policy and development implications for senders and recipients of remittances to Nigeria. The main problem identified in the findings is that the competitive environment for money transfers in Nigeria is highly constrained, which actually encourages informal transfers of money. Other findings in this report show that there is willingness among most banks and other financial institutions to entertain alternative strategies, including partnerships with other money transfer operators or innovative technologies for money transfers.
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