Guest Join UsHey Guest,
Welcome, Join our awesome community where you can discuss on various topics :-
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Much More.. or Create an Account


{myadvertisements[zone_1]}
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
CBN Introduces ‘Naira 4 Dollar Scheme’ For Diaspora Remittances
#1
Quote:CBN introduces ‘Naira 4 Dollar Scheme’ for diaspora remittances, to pay N5 for every $1 remitted

The Central Bank of Nigeria (CBN) has introduced its ‘Naira 4 Dollar Scheme’ for diaspora remittances, as all recipients of diaspora remittances through CBN’s IMTOs shall be paid N5 for every $1 received as remittance inflow.

The scheme takes effect from Monday, March 8, 2021 and ends on Saturday, May 8, 2021.

This was disclosed by CBN in a circular issued to all Deposit Money Banks (DMO) and International Money Transfer Operators (IMTO).

The memo, which was seen by Nairametrics, was dated March 5th, 2021 and signed by the Director, Trade and Exchange Department, A.S Jibrin.

According to the circular, the initiative is CBN’s effort to sustain the encouraging increase in inflows of diaspora remittances into Nigeria.

The circulated stated, “In the light of this, the CBN shall, through commercial banks pay to remittance recipients the incentive of N5 for every $1 remitted by sender and collected by designated beneficiary. This incentive is to be paid to recipients whether they prefer to collect the USD as cash across the counter in the bank or transfer same into their domiciliary account.“


Source: https://nairametrics.com/2021/03/06/breaking-cbn-introduces-naira-4-dollar-scheme-for-diaspora-remittances/

[Image: 13228268_dollarnairaii_jpegbd94c90dc3a1a...19dadcc5c1]
Reply
{myadvertisements[zone_3]}


Possibly Related Threads...
Thread Author Replies Views Last Post
  Foreign reserves rise to $34.85b on ‘Naira for Dollar’ polcy Edoman 0 80 04-10-2021, 09:48 AM
Last Post: Edoman
  Dangote Is Selling Cement For 1,150 Naira In Zambia Edoman 0 82 04-06-2021, 10:19 PM
Last Post: Edoman
  CBN Governor, Godwin Emefiele confirms adjustment of naira to N410/$1 Edoman 0 104 02-28-2021, 08:43 PM
Last Post: Edoman
  FG Rejects IMF’s Call For Further Devaluation Of Naira Edoman 0 126 02-09-2021, 08:05 AM
Last Post: Edoman
  Naira Slumps Further, Exchanges For 473/$ Edoman 0 128 01-13-2021, 10:57 AM
Last Post: Edoman
  SEC Disowns MBA FOREX Investment, Calls It A Ponzi Scheme Edoman 0 191 12-25-2020, 09:13 AM
Last Post: Edoman
  NCDMB, PETAN seal $30m working capital scheme deal Edoman 0 168 12-17-2020, 09:16 AM
Last Post: Edoman
  Naira To Trade At 386/$ As CBN Resumes Forex Sale To BDCs Edoman 0 305 08-27-2020, 11:10 PM
Last Post: Edoman



Users browsing this thread: 1 Guest(s)

{myadvertisements[zone_2]}

About contripeople

Contripeople forum description.

              Quick Links

              User Links

              Advertise