Banks to pay Dollars while IMTOs and other diaspora Remittances will now pay in Naira – CBN

On February 13, 2024, the Central Bank of Nigeria implemented Stricter Guidelines for International Money Transfer Services. Introduction: The Central Bank of Nigeria (CBN) has restricted the operations of international money transfer operators (IMTOs) to only inbound transfers, halting outbound transfers. In addition to this, these inbound transfers can only be paid out in Naira. … Read more