Hernández-Coss, RaúlBun, Chinyere Egwuagu2012-05-302012-05-3020070-8213-7023-5https://hdl.handle.net/10986/6654The UK-Nigeria remittance corridor has an equal dominance of formal and informal remittance intermediaries. Although several formal financial institutions for transferring money exist in the UK, many people choose to send money informally. More collaboration between the UK and Nigeria is necessary to develop the remittance market, to encourage the use of formal channels, and to enhance the development potential. Among its benefits, the remittance country partnership (RCP) between UK and Nigeria aims to reduce the cost of remittance transfers. The Nigerian government is engaging its diaspora to help spur economic growth. This report recommends that each government focus on improving data collection at its end of the corridor and do more research to provide its policymakers and its private sector with accurate information.en-USCC BY 3.0 IGOACCOUNT HOLDERSACCOUNT-TO-ACCOUNTACQUISITIONADBANTI-MONEY LAUNDERINGAVERAGE REMITTANCEBALANCE OF PAYMENTSBANK ACCOUNTBANK BRANCHESBANK DATABANK DRAFTBANK DRAFT PAYMENTSBANK OF ENGLANDBANK TRANSFERBANK TRANSFERSBANKING SUPERVISIONBANKSCASH-TO-CASHCENTRAL BANKSCHILD LABORCITIZENCITIZENSCITIZENSHIPCLEARING HOUSECOLLECTIVECOLLECTIVE REMITTANCESCOMMERCIAL BANKCOMMUNITIES OF ORIGINCOMMUNITY DEVELOPMENTCOMPANYCOMPENSATION OF EMPLOYEESCONTRIBUTION OF REMITTANCESCORRESPONDENT BANKSCOST OF LIVINGCOST OF TRANSFERSCOUNTRY OF ORIGINCURRENCY CONVERSIONSDATA ON REMITTANCESDEVELOPING COUNTRIESDEVELOPMENT IMPACT OF REMITTANCESDEVELOPMENTAL IMPACTDIASPORADISSEMINATIONDUE DILIGENCEECONOMIC GROWTHECONOMIC OPPORTUNITIESELDERLYELECTRONIC FUNDSELECTRONIC FUNDS TRANSFERELECTRONIC PAYMENTSEMIGRATIONEMPLOYEE COMPENSATIONESTATEETHNIC GROUPETHNIC GROUPSEUROPEAN CENTRAL BANKEXCHANGE RATEEXTENDED FAMILYFAMILY MEMBERSFARMSFEDERAL GOVERNMENTSFINANCIAL INSTITUTIONSFINANCIAL INTERMEDIARIESFINANCIAL PRODUCTSFINANCIAL SERVICESFINANCIAL SYSTEMSFOREIGN CURRENCYFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN EXCHANGE RATESFORMAL MONEY TRANSFERSFORMAL TRANSFER SYSTEMSFUNDS FLOWGOVERNMENT INITIATIVESHOME COUNTRIESHOUSINGHUMAN TRAFFICKINGHUMANITARIAN AFFAIRSIMMIGRANTSINCOMEINDIVIDUALSINFORMAL REMITTANCEINFORMAL TRANSFERINITIATIVES ON REMITTANCESINTERNATIONAL MONEY ORDERINTERNATIONAL REMITTANCEINTERNATIONAL REMITTANCE SYSTEMSLEGAL FRAMEWORKLEGAL STATUSLEGISLATIONLIMITEDLOCAL CURRENCYMARKET COMPETITIONMIDDLE EASTMIGRANTMIGRANTSMIGRATIONMILLENNIUM DEVELOPMENT GOALMONEY HOMEMONEY LAUNDERINGMONEY TO FAMILIESMONEY TRANSFERMONEY TRANSFER OPERATORMONEY TRANSFER OPERATORSMONEY TRANSFERSMONEY TRANSMITTERSMUNICIPAL GOVERNMENTSNATIONALSNONPROFIT ORGANIZATIONSNURSESOFFICIAL DEVELOPMENT ASSISTANCEOLD AGEORPHANSPARTNERSHIPPEER REVIEWPERMANENT RESIDENCEPERSONSPETROLEUM EXPORTING COUNTRIESPOLICYPOSTAL SERVICEPOVERTY REDUCTIONPRODUCTIVITYPUBLIC TRANSPORTATIONRECIPIENT COUNTRIESRECIPIENT OF REMITTANCESREGULATORY FRAMEWORKREMITTANCEREMITTANCE BUSINESSREMITTANCE CORRIDORSREMITTANCE FLOWREMITTANCE FLOWSREMITTANCE INDUSTRYREMITTANCE MARKETREMITTANCE PAYMENTREMITTANCE PRODUCTSREMITTANCE SENDERSREMITTANCE SERVICEREMITTANCE SERVICE PROVIDERSREMITTANCE SERVICESREMITTANCE TRANSACTIONREMITTANCE TRANSACTIONSREMITTANCE TRANSFERREMITTANCE TRANSFERSREMITTANCESRURAL AREASSAHARASAVINGSSEND MONEYSEND MONEY HOMESEND REMITTANCESSERVICE PROVIDERSET OF RECOMMENDATIONSSETTLEMENT SYSTEMSSKILLED MIGRANTSSOCIAL WELFARESOCIETYSPECIFIC REMITTANCESUB-SAHARAN AFRICASUBSIDIARYSURVEY OF REMITTANCE PRODUCTSTECHNICAL ASSISTANCETERRORISTTRANSFER CHANNELSTRANSFER COSTTRANSFER COSTSTRANSFER FEETRANSFER MECHANISMSTRANSFER MONEYTRANSFER PROCESSTRANSPORTUNIONUNIVERSITY EDUCATIONUNSKILLED LABORURBAN AREASUSES OF REMITTANCESVALUE OF REMITTANCESWAGESWESTERN EUROPEWORKER REMITTANCESWORKERS REMITTANCESWorld Bank10.1596/978-0-8213-7023-0