
Central Bank of Nigeria
Receipt of Diaspora Remittances: Additional Operational Guidelines
- Author
- Central Bank of Nigeria
- Reference No.
- PSM/DIR/CON/CW0/16/126
- Year
- 2020
- Pages
- 2 pages
The Central Bank of Nigeria directs deposit money banks to close Naira accounts held by international money transfer operators, ensuring diaspora remittances reach beneficiaries only in foreign currency through cash or domiciliary account transfers. Banks may open Opex accounts for IMTO salaries and operating expenses,…