Regulating the International Money Transfer Business in Nigeria.

According to the World Bank’s Migration and Remittances Factbook 2016, more than 250 million people, or 3.4 percent of the world population, live outside their countries of birth. Members of the Nigerian diaspora are not lost in this trajectory as they remain closely connected to their home country, - a fact reflected in the widespread practice of remitting money to family still in Nigeria (inbound) or remitting money from Nigeria to other countries around the world (outbound).