“Send A Dollar, Get Five Naira Free” - Central Bank Of Nigeria Launches Forex Promo

Date: 06-03-2021 8:11 pm (1 month ago) | Author: Mister Jay Wonder
- at 6-03-2021 08:11 PM (1 month ago)
Online (m)

The Central Bank of Nigeria (CBN) on Saturday introduced a “Naira 4 Dollar Scheme”, an incentive that pays naira to senders and recipients of international money transfers.

This was announced in a circular signed by Saleh Jibrin, CBN‘s Director, Trade and Exchange Department.

The policy is aimed at boosting dollar supply in the country, at a time of foreign exchange crunch that has forced the central bank to devalue the naira more than once in a year.

According to the bank, recipients of diaspora remittances through CBN’s International money transfer operators (IMTOs) will now be paid N5 for every $1 received as remittance inflow.

Jibrin instructed all commercial banks and International Money Transfer Operators (IMTOs) to ensure that the scheme takes effect from Monday.


“In an effort to sustain the encouraging inflows of diaspora remittances into the country, the CBN hereby announces this scheme as an incentive for senders and recipients of international Money Transfers.

“All recipients of diaspora remittances through CBN licensed IMTOs shall henceforth get N5 for every one US dollar received.

“This incentive is to be paid to recipients whether they choose to collect the dollar as cash across the counter in a bank or transfer same into their domiciliary account.

“Having discussed with banks and IMTOs, the scheme takes effect from Monday, March, 8.”


Posted: at 6-03-2021 08:11 PM (1 month ago) | Addicted Hero
- ficull at 6-03-2021 08:53 PM (1 month ago)
(m)
The only reasonable incentive that’ll encourage Nigerians in diaspora to send more money is to provide security to the Nigerian people at home.
Posted: at 6-03-2021 08:53 PM (1 month ago) | Gistmaniac
Reply
- gogoman at 7-03-2021 12:10 AM (1 month ago)
Online (m)
We for abroad no dey send any penny come naija!! una won chop person money, money wey i work for inside snow  Roll Eyes Roll Eyes Roll Eyes Roll Eyes
Posted: at 7-03-2021 12:10 AM (1 month ago) | Addicted Hero
Reply
- Wazubia at 7-03-2021 06:22 AM (1 month ago)
(m)
BUHARI GOVERNMENT IS SCAM,  ALL OF UNA ARE THINKING FROM ANUS.
WHY DO YOU STOP ALL THE APP PEOPLE USE TO SEND MONEY BACK HOME, WITHOUT CONSIDERING THE CONSEQUENCES...  Roll Eyes Roll Eyes  Roll Eyes
NOW THERE'S SHORTAGE OF FOREIGN CURRENCY.

YEYE PEOPLE. YEYE GOVERNMENT... Roll Eyes Roll Eyes Roll Eyes
Posted: at 7-03-2021 06:22 AM (1 month ago) | Gistmaniac
Reply

fire TRENDING GISTS fire

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