2020-11-30 | TED/FEM/FPC/GEN/01/011

Amendment to Procedures for Receipt of Diaspora Remittances

The Central Bank of Nigeria (CBN) has amended the procedures for receiving diaspora remittances, allowing beneficiaries to receive inflows in US dollars through their chosen bank. Recipients can opt to receive the funds in cash or have them deposited into their domiciliary account. These changes aim to deepen the foreign exchange market, increase liquidity, and enhance transparency in the administration of diaspora remittances into Nigeria.

Nigeria

Central Bank of Nigeria

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