• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, July 3, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

New Diaspora remittances policy starts Dec. 4

The Matters Press by The Matters Press
December 4, 2020
Reading Time: 2 mins read
0
Africa’s remittance inflows hit $72b

Dollars

Dollars

By Tanko Mohammed
The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele has announced that the new CBN policy to improve the Diaspora remittances into the country would take effect from Dec. 4.

RELATED POSTS

Nasarawa showcases efficient use of fuel subsidy savings, exposes futility of Tinubu’s opposition’s mischief – TDF

Transformational in FCT in line with Tinubu’s Renewed Hope agenda

Ignore Atiku’s claim to dilute historic mechanised farming deal with Belarus

Emefiele made this in his remarks on “Improving remittance Inflows into Nigeria ” obtained from the apex bank’s official website.

He said that policy measures were designed to boost and facilitate an efficient flow of remittances sent home by Nigerians in the Diaspora.

“In an effort to liberalise, simplify and improve the receipt and administration of the Diaspora remittances into Nigeria, CBN wishes to announce as
follows:

“Beneficiaries of Diaspora Remittances through International Money Transfer Operators (IMTOs) shall henceforth receive such inflows in foreign currency (U.S. dollars) through the designated bank of their choice.

“Such recipients of remittances may have the option of receiving these funds in foreign currency cash (U.S. dollars) or into their ordinary domiciliary accounts.

“These changes are necessary to deepen the foreign exchange market, provide more liquidity and create more transparency in the administration of Diaspora Remittances into Nigeria,” he said.

Emefiele said that the changes would help finance a future stream of investment opportunities for Nigerians in the Diaspora, while also guaranteeing that recipients of remittances would receive a market-reflective exchange rate for their inflows.

“All Authorised Dealers and the general public should note that beneficiaries shall have unfettered access and utilisation to such foreign currency proceeds either in FX cash and/or in their Domiciliary Accounts,” he said.

He however said that some of the stakeholders had tried to frustrate the new policy measures, adding that the apex bank would resort to stiffer measures to ensure its implementation.

“In the course of following up on the implementation of the aforementioned new policies, the CBN observed some pushback by some of the International Money Transfer Operators (IMTOs) who were bent on undermining the new policies.

Tags: DiasporaRemittances
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Nasarawa showcases efficient use of fuel subsidy savings, exposes futility of Tinubu’s opposition’s mischief – TDF

July 1, 2025
Property owners besiege FCT office to pay ground rent
Economy/Technology

Transformational in FCT in line with Tinubu’s Renewed Hope agenda

June 30, 2025
China’s agricultural wholesale products prices continue to drop
Agriculture

Ignore Atiku’s claim to dilute historic mechanised farming deal with Belarus

June 29, 2025
$2.5 billion JBS investment, a big economic victory for Nigeria –  TDF
Economy/Technology

Tinubu’s N60b Intervention in Gombe Agro-Livestock Zone excites group

June 27, 2025
ActionAid, SWOFON call for urgent completion of BOA recapitalisation
Agriculture

N1.5trn recapitalisation of Agric bank will herald food security – TMV

June 26, 2025
Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF
Energy

Lamido Wrong on Tinubu’s June 12 Role, haunted by his anti-democratic past- TDF

June 25, 2025
Next Post
NEPZA on new template for registration of free zones in line with ease of doing business

NEPZA on new template for registration of free zones in line with ease of doing business

Covid-19 causes GDP’s contraction

Nigeria laying firm foundation for industrialisation

Recommended Stories

SEC frowns at resurgence of Ponzi schemes

SEC warns public against dealings with FinAfrica, Poyoyo investments

December 28, 2021
New Naira notes unavailable even as CBN campaigns for acceptance

Entrepreneurs count losses over scarcity of new Naira notes

February 6, 2023
NGX, stakeholders set to unfold opportunities in ETFs market

NGX Group records N700m profit before tax

July 29, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Nasarawa showcases efficient use of fuel subsidy savings, exposes futility of Tinubu’s opposition’s mischief – TDF
  • Transformational in FCT in line with Tinubu’s Renewed Hope agenda
  • Ignore Atiku’s claim to dilute historic mechanised farming deal with Belarus

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us