Diaspora money

December 10, 2020
Sending Money To Nigeria? Under New CBN Directives International Money Transfer Can No Longer Be Wired In Local Currency Directly To Accounts.

Sending Money To Nigeria? Here Are The Changes Under The Central Bank Of Nigeria’s New Rules.

The Central Bank of Nigeria CBN) on Thursday 3rd December issued directives to International Money Transfer Operators (IMTOs) on foreign currency payment in cash to beneficiaries of Diaspora remittances. The fresh directives followed the new rules unveiled by the apex bank on Monday which allow beneficiaries of such remittances to collect the proceeds as cash in foreign currency.