In a bid to create timely settlement of Diaspora remittances, the Central Bank of Nigeria, CBN has created a window for International Money Transfer Operators, IMTOs to access to naira liquidity.
The CBN disclosed this in a circular titled: “New measures to enhance local currency liquidity for settlement of Diaspora remittances.”
Highlighting the compliance rules to guide the process, the CBN said: “The option of same day settlement will be available for transactions executed and confirmed before 12 noon on a trading date;
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