Remittance settlement reform: verify the payout route before transferring
The story
Central Bank of Nigeria
CBN’s reform overview records a March directive concerning designated naira accounts for international money-transfer settlements.
CBN’s reforms page records the April introduction of the Nigerian Overnight Financing Rate benchmark.
Why it matters
Diaspora professionals should compare regulated providers, fees and actual beneficiary payouts.
For a borrowing or payment decision, the useful comparison is the actual offer: its fees, eligibility, repayment terms and currency exposure. A benchmark or programme announcement is one part of that assessment; it does not settle the cost faced by a particular household or business.
Read the original source: Central Bank of Nigeria
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