The Central Bank of Nigeria (CBN) has announced an extension of its ‘Naira 4 Dollar’ incentive to encourage diaspora remittances until further notice. Under the scheme, the Bank pays out a reward of N5 for every $1 of fund remitted to Nigeria through money transfer companies. The apex bank announced the extension on Wednesday (5 May) through a memo by …
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Remittances: Nigeria pays 5 naira reward for every dollar received
As part of its incentives to boost the inflow of foreign currency in the country, the Central Bank of Nigeria (CBN) on Saturday introduced a reward of N5 for every $1 of fund remitted to Nigeria through International Money Transfer Organisations in its new forex policy. The CBN announced the new policy in a circular to all deposit money banks, …
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