December 3, 2020/Ecobank In a reaction to the recent announcement by the Central Bank Nigeria (CBN) that beneficiaries of remittances can now receive their transfers in Dollars or opt to have funds paid directly into their domiciliary accounts, Ecobank Nigeria has assured its customers that it will put the necessary processes […]
Money Market
CBN Introduces Special Bills to Securitize Excess CRR Balances for Banks
December 2, 2020/CBN The Central Bank of Nigeria (CBN) hereby announces the introduction of Special Bills as part of efforts to deepen the financial markets and avail the monetary authority with an additional liquidity management tool. The features of the CBN Special Bills are as follows: a.Tenor of 90 days; […]
CBN Amends Circular on Procedures for Receipt of Diaspora Remittances
December 2, 2020/CBN Further to the Circular Ref. No. TED/FEM/FPC/GEN/01/011 of November 30, 2020, on the above subject, we wish to reiterate and clarify to All International Money Transfer Operators (IMTO) the following; IMTO’s must ensure that all funds in favour of beneficiaries/recipients in Nigeria be deposited into the Agent […]
