Tag
INTERNATIONAL MONEY TRANSFER OPERATORS
The Central Bank of Nigeria (CBN) was criticized for running multiple exchange rate regimes, but the reasons are more obvious and straightforward than the discourse suggests.
The Nigerian Naira appreciated significantly against the US dollar throughout March 2024, marking a major turnaround for Nigeria's exchange rate policy.
CBN has listed the 47 approved International Money Transfer Operators in the country.
The new circular explains who diaspora remittances are to be paid to beneficiaries in Nigeria only in foreign currency and not naira.
The CBN Governor has disclosed the reason the apex bank amended the procedures for receipt of diaspora remittances into the country.
To save the naira, CBN now allows diaspora remittances to be withdrawn dollar cash.