United Bank for Africa Plc and the Nigeria Diaspora Commission have strengthened their collaboration to enhance diaspora capital inflows and support diaspora‑driven initiatives in Nigeria.

The development follows the signing of a Memorandum of Understanding between UBA and NIDCOM at the Nigeria Diaspora Investment Summit held in Abuja.

The agreement is aimed at improving engagement with the Nigerian diaspora and facilitating investments into the country.

UBA Group Managing Director and Chief Executive Officer Oliver Alawuba said the partnership is focused on creating products and services that would enhance financial flows from the Nigerian diaspora to the domestic economy.

Alawuba stated that diaspora capital is important for economic development and that the bank is committed to providing ease of access for diaspora investors and customers.

Nigeria Diaspora Commission Director‑General Abike Dabiri‑Erewa explained that the commission is mandated to engage Nigerians in the diaspora and tap into their expertise, skills and capital for national development.

Dabiri‑Erewa said the partnership with UBA will help strengthen the framework for diaspora engagement and unlock economic opportunities for Nigerians abroad who wish to invest in the country.

Both UBA and NIDCOM said they would focus on creating awareness of the opportunities available to diaspora investors and develop enhanced financial solutions to support diaspora capital inflows.