Menu

The Western Union Company, a global leader in payment services, said today that Nigeria is one of the most connected countries in the world when it comes to receiving and sending money.

The Colorado-based company said that people sent money from over 195 countries and territories into Nigeria and from Nigeria to about 160 countries in 2015., reflecting the country’s global connections brought about by the rise in migration of Nigerians.

"It is an honour to have served Nigerians for the past 20 years and connect them to and from nearly every corner of the world, moving the money that funds education, healthcare, everyday living and the dreams and aspirations of their families,” said Aida Diarra, Regional Vice President of Western Union Africa.

Nigeria is the fifth largest remittance receiver globally, receiving about $20.7 billion last year, according to the World Bank. Migration destinations have remained steady since a decade ago, according to Western Union's own trend analysis. The US, the UK, Italy, Canada, Germany, Australia, France and Netherlands continued to be the favourite destinations while United Arab Emirates and Malaysia moved to the top 10, replacing Switzerland and Spain.

"The Nigerian spirit of hard work and resilience can be found around the world across all economic spheres,” Diarra said. “Western Union recognizes that, at the start and end of every transaction are two people, and they rely on each other, just as much they rely on us to move their money reliably. It is this dual belonging that remains at the heart of our innovation to make it easy for Nigerians to send or receive money," Diarra added.

Founded in 1851, Western Union began its operations in Nigeria from a single location with First Bank of Nigeria in Lagos. The company now has over 5,200 retail agent locations in most bank branches across the country.