Diaspora Remittances In Nigeria: Examining The New CBN Policy - Finance and Banking
DIASPORA REMITTANCES IN NIGERIA: EXAMINING THE NEW CBN POLICY By Ifeoluwa Ebiseni (Associate, AELEX) Over the past few weeks, the Central Bank of Nigeria (“CBN”) has issued circulars amending and clarifying the procedure for receipt of diaspora remittances (“the Circulars”). 1 According to the CBN, the Circulars were issued in an effort to liberalise, simplify and improve the receipt and administration of diaspora remittances into Nigeria. It was also stated that the clarifications and amendments are aimed at stabilising and deepening the foreign exchange market, providing more liquid...
Source: mondaq.com