
Central Bank of Nigeria
Amendment to Procedures for Receipt of Diaspora Remittances
- Author
- Central Bank of Nigeria
- Reference No.
- TED/FEM/FPC/GEN/01/012
- Year
- 2020
- Pages
- 2 pages
This circular clarifies procedures for international money transfer operators handling diaspora remittances to Nigeria. It requires remittance funds to be deposited into agent banks’ correspondent accounts, assigns agent banks responsibility for final payment to beneficiaries in foreign currency cash or through domiciliary accounts, and confirms…