THE Central Bank of
Following this initiative, an opportunity has also been provided for people without bank accounts to transfer funds overseas to either wards or dependants as they can now do so with the more than 500
For now however, transfers up to the limit of the equivalent of $2000 only is allowed as the apex bank said it needs to gauge the mode and reasons for transfers.
CBN Governor, Mr.
He spoke while performing the official launch in
Emefiele expressed the concern that the Nigerian Naira is perpetually under pressure because until this new transfer window opportunity, anybody wanting to send money overseas would be forced to do so with foreign exchange, hence they resort to Bureaux De Change in pursuit of that .
But now, he said all BDCs who fulfill their new licensing requirement can also become agents of
The CBN Governor gave further insight to the plan, as well as its scale : "Today, outbound money transfer service is being launched to provide an alternative channel of foreign exchange transfer to serve the needs of small foreign exchange end-users and simultaneously reduce the amount of foreign exchange sourced from official forex windows.
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