NiDCOM, First Bank Deepen Diaspora Banking Access for Nigerians in the UK
In a strategic move to enhance financial inclusion and deepen economic engagement with Nigerians abroad, the Nigerians in Diaspora Commission (NiDCOM) has partnered with First Bank of Nigeria Plc to roll out diaspora banking services in the United Kingdom.
The partnership was activated during the Nigeria-UK Festival at Barking Park, London, where hundreds of Nigerians braved heavy rains to participate in the exercise — a sign of strong demand for seamless, accessible financial solutions tailored for the diaspora.
Beyond Account Opening: A New Frontier in Diaspora Engagement
According to a statement by NiDCOM Spokesperson, Abdur-Rahman Balogun, the initiative represents a practical demonstration of NiDCOM’s mission to bridge service delivery gaps for Nigerians living abroad and expand the role of the diaspora in national development.
Speaking on behalf of NiDCOM Chairman/CEO, Hon. Abike Dabiri-Erewa, the commission’s Director of Remittances and Investment, Abdulrahman Terab, emphasized that the programme is part of a broader strategy to integrate diaspora Nigerians more effectively into the national economic system.
“This is not just about opening accounts — it’s about building trust, unlocking opportunities, and ensuring that Nigerians abroad are financially equipped to thrive globally and invest meaningfully at home,” Dabiri-Erewa said.
Strategic Financial Inclusion for Economic Contribution
The NiDCOM-First Bank partnership is designed to facilitate:
- Easy onboarding into Nigerian financial systems from abroad
- Access to diaspora-targeted investment and savings products
- Improved remittance channels and reduced transaction friction
- Digital identity and documentation integration for seamless cross-border banking
These services aim to reduce informal financial activities among diaspora Nigerians, while supporting formal capital inflows into the Nigerian economy.
“Strategic partnerships like this one will unlock new financial pathways for diaspora Nigerians to save, invest, and remit with greater confidence and control,” the commission noted.
BRANDECONOMY INSIGHT: The Power of Diaspora Capital
With over $20 billion in annual remittances, Nigeria’s diaspora represents one of its most stable and resilient sources of foreign exchange. Yet, access to structured banking remains fragmented and under-leveraged.
This initiative, led by NiDCOM and anchored by a legacy financial institution like First Bank, signals a new wave of diaspora-centric financial infrastructure that not only strengthens individual prosperity but also drives inclusive national development.
By activating banking services at a grassroots cultural event, NiDCOM is sending a clear message: diaspora engagement is no longer symbolic — it is strategic, financial, and deeply institutional.
Bottom Line:
NiDCOM’s partnership with First Bank marks a pivotal shift in diaspora banking strategy — moving from transactional to transformational. With stronger access to Nigerian banking platforms, diaspora citizens are now better positioned to invest, save, remit, and build bridges between global opportunity and national development.
