Nigerians To Start Withdrawing Dollars From Banks Today
Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele said beneficiaries of diaspora remittances will now be paid in dollars from today.
According to a statement obtained from the apex bank’s official website, Emefiele said:
“In an effort to liberalise, simplify and improve the receipt and administration of the Diaspora remittances into Nigeria, CBN wishes to announce as follows:
“Beneficiaries of Diaspora Remittances through International Money Transfer Operators (IMTOs) shall henceforth receive such inflows in foreign currency (U.S. dollars) through the designated bank of their choice.
“Such recipients of remittances may have the option of receiving these funds in foreign currency cash (U.S. dollars) or into their ordinary domiciliary accounts.
“These changes are necessary to deepen the foreign exchange market, provide more liquidity and create more transparency in the administration of Diaspora Remittances into Nigeria,” he said.