Alert: Central Bank of Nigeria Circular TED/FEM/FPC/PUB/001/001
Title: Modalities For Payout Of Disapora Remittances
Summary: Requests to financial institutions include: 1. Only licensed International Money Transfer Operators (IMTOs) are permitted to facilitate diaspora remittances into Nigeria. 2. All diaspora remittances must be received by beneficiaries in foreign currency only, either in cash or transferred to domiciliary accounts. 3. IMTOs are not allowed to disburse diaspora remittances in Naira or through any other payment platforms within the Nigerian financial system.
Posted on: Friday, January 22, 2021
Download: TED/FEM/FPC/PUB/001/001