2020-12-02 | TED/FEM/FPC/GEN/01/012

Amendments To Disapora Remittances Procedures

The circular from the Trade and Exchange Department reiterates instructions to International Money Transfer Operators (IMTOs) regarding diaspora remittances to Nigeria. IMTOs must deposit funds into Agent Banks' correspondent accounts, with Agent Banks responsible for final payment to beneficiaries in foreign currency cash or into their domiciliary accounts. The payment mode is at the beneficiary's discretion.

Nigeria

Central Bank of Nigeria

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