Remittances sent to sub-Saharan African countries fell 12.5% last year to $42 billionbut excluding Nigeria, the value of money sent by emigrants rose by 2.3%.

According to figures released last week by the World Bank, in its report on remittance flows, money sent by foreigners to their home countries increased last year for Latin America and the Caribbean (6.5%), Asia (5.2%), and the Middle East and North Africa (2.3%), with the biggest drop in sub-Saharan Africa, which saw money sent by emigrants drop by 12.5%.

"The decline was almost entirely due to the 27.7% drop in shipments to Nigeria, which is worth 40% of the region's total," reads the document released in Washington.

"Excluding Nigeria, remittances to this region increased by 2.3%," with strong rises in Zambia (32%) and Mozambique (16%), and are expected to increase by 2.6% this year, underpinned by improved growth prospects in high-income countries," the document adds.

As for the cost of sending money, sub-Saharan Africa remains the most expensive region, with migrants having to pay an average of 8.2% of fees for a $200 remittance, which compares to a global average of 6.5%, and is almost three times the Sustainable Development Goal target (3%).