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FirstBank, driving dollar remittances, economic growth via IMTOS

FirstBank, driving dollar remittances, economic growth via IMTOS
naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.

Firstbank, Driving Dollar Remittances, Economic Growth Via Imtos

Firstbank, Driving Dollar Remittances, Economic Growth Via Imtos
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Diaspora remittances: Examining CBN s Naira4Dollar incentive

By Kadiri Abdulrahman, The Central Bank of Nigeria (CBN) on March 5 introduced the Naira4Dollar scheme to encourage increased diaspora remittances into the country. Announcing the introduction of the scheme in a circular, Saleh Jibrin, CBN ‘s Director, Trade and Exchange Department, said that it would allow all

CBN extends Naira 4 dollar incentive for diaspora remittances

CBN extends Naira 4 dollar incentive for diaspora remittances On Godwin Emefiele, CBN Governor. The Central Bank of Nigeria (CBN) has announced an extension to its Naira 4 dollar incentive to encourage diaspora remittances till further notice. The apex bank announced the extension on Wednesday through a memo by Saleh Jibrin, Director of Trade and Exchange Department, addressed to Deposit Money Banks (DMBs), International Money Transfer Operators (IMTOs), and the general public. Jibrin said that all aspects of the operationalisation of the scheme were to remain the same. The News Agency of Nigeria (NAN) reports that the CBN introduced the scheme on March 5, and scheduled to terminate it on May 8.

CBN extends Naira-4-Dollar scheme indefinitely

CBN extends Naira-4-Dollar scheme indefinitely On   The Central Bank of Nigeria, CBN, said it has extended its  Naira-4-Dollar  scheme until further notice. The apex bank disclosed this in a circular titled: “Re: Introduction of the CBN’s “Naira 4 Dollar Scheme” for Diaspora Remittances.” The circular, signed by Director, Trade and Exchange Department, CBN, Saleh Jibrin, stated: “Further to the CBN Circular referenced TED/FEM/PUB/FPC/01/003 dated 05 March 2021 on the above subject matter, which was originally scheduled to end on May 8, 2021, we hereby announce the continuation of the scheme until further notice.” Recall, that  the CBN introduced the  Naira-4-Dollar  scheme in an effort to sustain the encouraging increase in inflows of diaspora remittances into the country through the International Money Transfer Operators, IMTOs.

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