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If inbound remittances were considered as an industry in their own right, they would be the second largest in Nigeria today after crop production.
Whilst this is not to be built within the commercial bank, it is a key part of the strategy.
Moniepoint, through their existing infrastructure to instantly settle payments across the whole of Nigeria, have a natural competitive advantage. Servicing our own retail offering and providing rails to existing remittance companies such as Wise, Remitly and World Remit will provide penetration into a market contributing $19.5bn of USD flow annually.
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