The United States lawmakers have proposed a bill seeking to impose a 5 per cent tax on remittances sent abroad.
House Republicans released a bill draft on Monday targeting money people send to foreign countries. This could create further strain for immigrant families, including Nigerians who send money home.
Olayemi Cardoso, governor of Nigeria’s central bank (CBN), said diaspora remittances through official money transfer companies reached $4.22 billion between January and October 2024.