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Central Bank of Nigeria

Receipt of Diaspora Remittances: Additional Operational Guidelines

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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,…

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