CBN introduces Naira 4 Dollar scheme for diaspora remittances

CBN introduces Naira 4 Dollar scheme for diaspora remittances   In an effort to sustain the encouraging increase in inflows of diaspora remittances into the country. the Central Bank of Nigeria (CBN) has announced the introduction of the “CBN Naira 4 Dollar Scheme’, an incentive for senders and recipients of international money transfers. Accordingly, all recipients of diaspora remittances through CBN licensed IMTOs shall henceforth be paid N5 for every $1 received as remittance inflow. In light of this, the CBN shall, through commercial banks, pay to remittance recipients the…

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