The CBN said the guidelines in the circular signed by CBN Director, Trade and Exchange Department, Dr. Ozoemena Nnaji, would facilitate the payment of proceeds of diaspora remittances to recipients who choose eNaira as a payment alternative.
Under the guidelines, the IMTOs are required to apply for a one-time “No-Objection” to pay out in eNaira from the Central Bank of Nigeria (CBN).
The bank shall also provide account details where foreign currency from IMTOs shall be received.
The CBN however, stressed that the receipt of proceeds of diaspora remittance in eNaira remained optional, adding that the option of the digital currency payout shall run concurrently with the dollar payout.
