Zenith Bank GMD Advocates For Direct Diaspora Investment In Nigeria

• Zenith Bank GMD has advocated for a direct diaspora investment in the country

• …theme of the event was germane as it highlighted the need for the country to earnestly begin the process of recovering from the deleterious effects of the COVID-19 pandemic.

EKO HOT BLOG reports that the Group managing director and chief executive officer of Zenith Bank Plc, Ebenezer Onyeagwu has urged Nigerians in the diaspora to accelerate efforts towards leveraging their vast wealth of knowledge and resources with a view to making sustainable and impactful contributions to national development.

Onyeagwu was speaking on Tuesday at the 4th edition of the Nigeria Diaspora Investment Summit 2021 convened by the Nigerians in Diaspora Commission (NiDCOM), with the theme ‘Partnership and Linkages for Post Covid Economic Growth.’

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He said the theme of the event was germane as it highlighted the need for the country to earnestly begin the process of recovering from the deleterious effects of the COVID-19 pandemic.

Addressing the gathering, Onyeagwu emphasised the crucial role the diaspora community must play in the economic growth of the country, noting the quality healthcare, or lack of it as the case may be, is one area where diaspora Nigerians can make a real difference.

“By leveraging the expertise of our diaspora healthcare professionals in some of the emerging world-class health facilities in Nigeria, such as Evercare Hospital, Ibom Specialist Hospital and Base University Hospital, we can begin to curb the loss of foreign exchange to medical tourism,” he said.

Onyeagwu also believes Nigeria has promising prospects of attracting significant diaspora inflow, which majorly comes in via informal channels.

Espousing an earlier assertion by Abike Dabiri-Erewa, chairman of NiDCOM and Emeka Offor, acting executive secretary/chief executive officer, Nigeria Investment Promotion Commission(NIPC), the Zenith Bank GMD strongly advocated for the discourse to move from diaspora remittances to diaspora direct investment.

He also applauded the federal government and the Central Bank of Nigeria (CBN) for initiating policies that have engendered a healthy environment for investment in Nigeria, citing the ‘Naira 4 Dollar Scheme’ which helped bolster diaspora remittances by giving more stimulus for recipients of international money transfers.

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