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Central Bank of Nigeria

New Measures to Enhance Local Currency Liquidity for Settlement of Diaspora Remittances

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Author
Central Bank of Nigeria
Reference No.
TED/FEM/PUB/FPC/001/019
Year
2024
Pages
2 pages

This circular introduces measures enabling eligible International Money Transfer Operators to access Naira liquidity through the Central Bank of Nigeria or Authorized Dealer Banks for settling diaspora remittances. It establishes same-day settlement for qualifying transactions, NAFEM-based pricing, mandatory daily regulatory returns containing source-of-funds information, confirmation…

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