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CBN Clarifies Policy On Diaspora Remittances - Politics - Nairaland

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CBN Clarifies Policy On Diaspora Remittances by OptimistSky(m): 6:43pm On Dec 02, 2020
The CBN made the clarification in a circular titled: “Re: Amendment to Procedures for Receipt of Diaspora Remittances,” dated December 2, 2020, which was signed by its Director, Trade and Exchange Department, Dr. Ozoemena Nnaji.

It explained: “Further to the Circular Ref. No. TED/FEM/FPC/GEN/01/011 of November 30, 2020, on the above subject, we wish to reiterate and clarify to all International Money Transfer Operators (IMTO) the following: IMTOs must ensure that all funds in favour of beneficiaries/recipients in Nigeria be deposited into the agent banks‘ correspondent account.

Read full article here


https://optimistsky.com/blog/02/12/2020/cbn-clarifies-policy-on-diaspora-remittances/
Re: CBN Clarifies Policy On Diaspora Remittances by ChimaAdeoye: 6:56pm On Dec 02, 2020
OptimistSky:
The CBN made the clarification in a circular titled: “Re: Amendment to Procedures for Receipt of Diaspora Remittances,” dated December 2, 2020, which was signed by its Director, Trade and Exchange Department, Dr. Ozoemena Nnaji.

It explained: “Further to the Circular Ref. No. TED/FEM/FPC/GEN/01/011 of November 30, 2020, on the above subject, we wish to reiterate and clarify to all International Money Transfer Operators (IMTO) the following: IMTOs must ensure that all funds in favour of beneficiaries/recipients in Nigeria be deposited into the agent banks‘ correspondent account.

Read full article here


https://optimistsky.com/blog/02/12/2020/cbn-clarifies-policy-on-diaspora-remittances/

With the drop in oil prices, Diaspora remittances is the biggest foreign currency earner for Nigeria right now.

The CBN should not make it harder for Nigerian diaspora to send money to help the country overcome its dire foreign currency shortages. Nigeria should learn from countries such as Kenya, South Africa, etc that make it so easy to send money home by their diaspora citizens than making it harder so that they will continue to corruptly shortchange the Nigerians abroad enslaving themselves with multiple jobs to send money home.

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Re: CBN Clarifies Policy On Diaspora Remittances by slimfit1(m): 10:43pm On Dec 02, 2020
When time come hunger will teach my people common sense.

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