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CBN to pay bonus for every diaspora remittances

The Central Bank of Nigeria (CBN) has announced the introduction of “CBN Naira 4 Dollar Scheme”, an incentive for senders and recipients of international money transfers.

The apex bank in a statement said all recipients of diaspora remittances through CBN licensed IMTOs shall hence forth be paid N5for every $1 received as remittance inflow.

“In light of this, the CBN shall, through commercial banks , pay to remittance recipients the incentive of N5 for every USD1 remitted by sender and collected by designated beneficiary,” the statement read.

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