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Remittance Flows

The naira this morning reversed its two weeks loss to the dollar in the parallel market, appreciating by N20 to N470 per dollar.

Bureau de Change operators want more action to support Naira

The Association of Bureau De Change Operators of Nigeria (ABCON) on Monday said that a competitive Diaspora Remittance market space would engender Naira stability.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Nigeria’s central bank says new scheme will ease diaspora remittances

The Central Bank of Nigeria has explained that its new “Naira 4 Dollar Scheme” seeks to make remittance through formal bank channels cheaper and more convenient for Nigerians in the diaspora.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Central bank threatens firms over diaspora remittances in local currency

The Central Bank of Nigeria (CBN) has directed payment switching and processing companies to stop local currency transfer of diaspora remittances received through International Money Transfer Operators (IMTOs), with a threat to revoke licences of defaulting firms.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

Central bank tackles recalcitrant IMTOs over diaspora remittances

The Central Bank of Nigeria (CBN) has expressed displeasure that some International Money Transfer Operators (IMTOs) continue to pay remittances in local currency contrary to its recent policy that granted unfettered access to forex from Diaspora and other money transfer remittances.
The Central Bank of Nigeria (CBN) as said that its staff in Jos Branch, on Tuesday averted what would have been another major fire disaster in the country.

CBN warns banks, IMTOs still paying remittances in Naira

The Central Bank of Nigeria has expressed displeasure towards some banks and international money transfer operators (IMTOs) that have, despite its recent directive, continued to pay remittances in local currency.

CBN: Nigerian banks set to begin payment of remittance inflows in forex

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says deposit money banks will begin remittances from international money transfer operators (IMTOs) on Friday, December 4.

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