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Central Bank of Nigeria

Amendment to Procedures for Receipt of Diaspora Remittances

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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…

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