International Day of Family Remittances: Imbibing its messages

-



Abdulrasheed Oluwaseyi & Amosu Jeremiah.

The chief message in making remittances is that no amount of money is too small to make an impact in a person's life. Like the popular saying goes "Half bread is better than none"
Remittance is a transfer of money by a foreign worker to an individual in their home country. Money sent home by migrants competes with international aid as one of the largest financial inflows to developing countries. 

The International Day of Family Remittances (IDFR) , is aimed at recognizing the significant financial contribution migrant workers make to the wellbeing of their families back home and to the sustainable development of their countries of origin. 

The IDFR was unanimously proclaimed by all 176 member states of The International Fund for Agricultural Development (IFAAD's) Governing Council at its 38th session in February 2015, and adopted by the UN General Assembly in June 2018 (draft A/72/L.56 ). Proclaiming an International Day of Family Remittances represents an invaluable opportunity not only to recognize the efforts of migrant workers globally, but also to strengthen current partnerships and create new synergies among sectors to promote the development impact of remittances worldwide.
Remittances represent one of the largest single financial force for good on the planet. In 2017, 200 million migrants sent USD481 billion to remittances-reliant countries of which $466 billion went to developing countries, helping sustain about 800 million people across the world. The money sent home annually by migrant workers dwarfs international aid and, in some instances, foreign direct investment too. 

Remittances also power financial inclusion and disproportionately benefit both the poor and women in emerging markets. Hundreds of millions of families globally rely on these money flows to keep food on the table and a roof over their heads.

Therefore,IDFR is the celebration of the hard work, sacrifice and generosity of international workers.


Comments

Post a Comment

Popular posts from this blog

82 LASUSTECH Students Benefit from N7.8 Million NELFUND Disbursement

-
Image
Habeeb Ibrahim 82 students at Lagos State University of Science and Technology (LASUSTECH) will benefit from a disbursement of N7,853,000, as part of the National Education Loan Fund (NELFUND) student loan program.  According to NELFUND’s announcement on their X (formerly Twitter) platform, the funds will be allocated to assist these students with their educational expenses. NELFUND announced that a total of 98 institutions across all six geo-political zones are now benefiting from the student loan program. In total, 105,844 students are receiving financial assistance, with ₦11,047,793,949.80 disbursed to date.  The statement reads: "98 Institutions across all geo-political zones are now benefiting from student loans. "105,844 Students are receiving financial support, empowering them to achieve their educational dreams. ₦11,047,793,949.80 disbursed to date." As of the time of publication, the management of LASUSTECH has yet to make an official ann...
Read more

100 Level Defeats 200 Level Mass Communication Students 4-3

-
Image
By Habeeb Ibrahim & Doyinsola Akinfenwa Photos By: Ajide Muminat  100 level student of the department of Mass Communication, Lagos State University of Science and Technology (LASUSTECH ) beat their 200 level counterpart by 4-3 goal at a novelty Match.  The match which was played at the ikorodu Campus of the school was organised by Peripasa a non governmental organisation. Both team played a 1-1 draw at the end of regulation time that resulted in penalty kick. The 200 level student opened score in the second half of the keenly contested match, while the 100 level student equalised just at the nick of time to drag the game into penalty kick. Salvador Idris, Kazeem Gafar, Akinde Marvelous, Azeez Mubarak And Oluebube Adewale played the penalty shoot-out for 200 level student with 3 penalty goals while Okedoyin Gabriel, Ogunlade Toluwalope, Adebayo Feranmi, Olakunle Rafiu And Shokoua Opemipo played the penalty shoot-out  for 100 level players with 4 penalty...
Read more

NELFUND: LASUSTECH Receives ₦112M, Contradicting Initial ₦7.8M for 82 Students

-
Image
By Habeeb Ibrahim     The Lagos State University of Science and Technology (LASUSTECH) has acknowledged the receipt of ₦112,057,000.00 (One Hundred and Twelve Million, Fifty-Seven Thousand Naira Only) from the Nigerian Education Loan Fund (NELFUND).  The funds were allocated to 1,233 students under the NELFUND student loan program. This announcement contradicts an earlier statement by NELFUND, which indicated that only 82 LASUSTECH students would benefit from a total disbursement of ₦7,853,000. The development was disclosed in a letter signed by the Vice-Chancellor, Prof. Olumuyiwa Omotola Odusanya, and addressed to the Managing Director/CEO of NELFUND.  "The institution acknowledges the receipt of payment of ₦112,057,000.00 for 1,233 students who applied for the NELFUND student loan program," Prof. Odusanya stated in the letter. Earlier in the week, LASUSTECH WATCH had received an anonymous tip regarding the payment but refrained from publish...
Read more