The pan-African credit rating agency, Agusto & Co has projected that Nigeria’s diaspora remittances will reach $22 billion by 2021, representing a year-on-year (y-o-y) rise of...
Nigeria’s diaspora remittances declined by 27.7 percent or $4.65 billion from $21.45 billion in 2019 to $16.8 billion in 2020, according to the World Bank Migration...
The new “Naira 4 Dollar” initiative was introduced because of the failure of the diaspora remittance policy announced in November 2020, when the apex bank adjusted...
CBN to Pay Receivers of Diaspora Remittances N5 for Every $1 Received In a desperate move to encourage diaspora remittances, the Central Bank of Nigeria (CBN)...
Central Bank of Nigeria Orders Closure of all International Money Transfer Operators’ Naira Accounts In an effort to ensure that all Deposit Money Banks adhere to...
COVID-19 Plunged Nigeria’s Foreign Remittance Inflows to $3.3 Billion in Q2 2020 Data from the Central Bank of Nigeria has shown that Nigeria’s remittance inflows hit...
Polaris Bank has commenced the payment of dollars to recipients of remittance inflows across all its branches. In a statement forwarded to all customers, the bank...
The Central Bank of Nigeria (CBN) has started focusing on how to better harness Nigeria’s huge diaspora remittances as seen in recent foreign exchange policy geared...
The Central Bank of Nigeria on Thursday announced that all arrangements have been perfected by both the International Money Transfer Operators (IMTOs) and the Deposit Money...
In a bid to simplify and finally liberalize the receipt of diaspora remittances, the Central Bank of Nigeria (CBN) has amended its receipt procedures to allow...