To Resolve FX Liquidity Pressures, CBN Orders Banks, IMTOs to Settle Diaspora Remittances in Naira
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•Move to boost access, strengthen local currency •Provides option for same day settlement • Cardoso: CBN will adhere to conventional methods to tame inflation •Optimistic on achieving price stability James Emejo in Abuja The Central Bank of Nigeria (CBN) yesterday directed Deposit Money Banks (DMBs) and International Money Transfer Operators (IMTOS) to pay all diaspora remittances in Naira and match with the corresponding foreign currency inflows going forward.
To Resolve FX Liquidity Pressures, CBN Orders Banks, IMTOs to Settle Diaspora Remittances in Naira
To Resolve FX Liquidity Pressures, CBN Orders…
To Resolve FX Liquidity Pressures, CBN Orders Banks, IMTOs to Settle Diaspora Remittances in Naira
•Move to boost access, strengthen local currency •Provides option for same day settlement • Cardoso: CBN will adhere to conventional methods to tame inflation •Optimistic on achieving price stability James Emejo in Abuja The Central Bank of Nigeria (CBN) yesterday directed Deposit Money Banks (DMBs) and International Money Transfer Operators (IMTOS) to pay all diaspora remittances in Naira and match with the corresponding foreign currency inflows going forward.