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The Central Bank of Nigeria (CBN) has directed International Money Transfer Operators to commence remittances payout in Naira to beneficiaries.
It has also directed that the Investors’ and Exporters’ Window foreign exchange rate should be used in determining the rate for such Naira payout.
These were contained in a CBN circular referenced: FED/FEM/PUB/FPC/001/004 issued by the Director of Trade and Exchange, Ozoemena Nnaji.
The new circular, was in furtherance to an earlier circular dated November 30, 2022 which provided guidelines on the payout policy of Diaspora remittances to beneficiaries back home.
According to the apex bank, the Naira payment was only an option, in addition to United States Dollars and E-Naira in receiving Diaspora remittances.
Real Madrid defender David Alaba has returned to the trending list on social media after linking up with Nigerian Afrobeats star, Wizkid at music festival, Rolling Loud. With the off-season still on, Alaba seems to be enjoying his vacation ahead of a return to training for preseason action with La Liga giants, Real Madrid. Taking to his official Instagram account, the Austrian international with Nigerian roots shared several photos of […]
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