JUST IN: CBN Gives Nigerians Options To Convert Diaspora Remittances To Naira

The Central Bank of Nigeria has added naira and the eNaira as payment options for diaspora remittances.

The CBN announced the policy on Wednesday in a circular dated July 10, 2023, seen by THE WHISTLER.

The CBN said, “Further to the circular referenced ED/FEM/FPC/GEN/01/011 dated November 30, 2020 in respect of the above subject, the Central Bank of Nigeria-hereby announces Naira as a payout option for receipts of proceeds of International Money Transfers.

“Accordingly, all recipients of diaspora remittances through the CBN-approved IIVITOs on the attached list shall henceforth have the option of receiving Naira payment in addition to USD and eNaira as payout options.