Nigerians living abroad pump $35 billion into the country through Transfast

IF YOU’RE wondering what your friends and family are doing in other countries there’s a good chance they’re making money.

That doesn’t mean you should pester them for extra cash but through one remittance money transfer service Nigerians sent back $35 billion last year.

As many of you know the money that friends and family send back makes a huge difference to homes across the country.

And of course this money, which inevitably finds its way into the economy, helps to boost Nigeria’s Gross Domestic Product.

Transfast is just one company that provides a remittance service and is located in more than 120 countries across the globe.

But in a move to consolidate its share of the Nigerian market Transfast has teamed up with top tier banks like the Ifie Sekibo led Heritage Bank, as well as Ecobank, Skye Bank, GTBank and others to enable more Nigerians to send money back home to loved ones.

Heritage Bank’s mobile banking app works perfectly well with Transfast and allows you to track your finances in real time. Check out this article for more details.

Although there are plenty of other payment services out there, Transfast’s director for European, Middle East, Africa and Asia, Samir Vidhate, said Transfast understood how important it was to provide a fast and secure service to allow Nigerians to send money home.

He said by joining up with major banks, like Heritage Bank, it was hoped more Nigerians would see the value in
using Transfast over other products.

“We are committed to the region and will be closely partnering with banks for continued growth,” Mr Vidhate said.