Daily Post Nigeria
Published
The Central Bank of Nigeria, CBN, has announced a new “CBN Naira for Dollar Scheme ”for senders and recipients of International money transfers.
The CBN in a statement released by its Director, Trade and Exchange Department, A.S Jibrin, said it will through commercial banks pay to remittance recipients the Incentive of N5 for every USD1 remitted by the sender and collected by the designated beneficiary.
It also stated that the incentive is to be paid to the recipients’ whether they choose to collect the USD as cash or as a transfer into their domiciliary account.