CBN New Policy Alert: Receive your foreign fund the way you want


The Central Bank of Nigeria has come up with a new policy on foreign remittances, which is money sent to you from abroad. This is talking about foreign currencies, your Dollars, Pounds, Euros, Deutschmark and the likes. This new policy states that there are no more restrictions in accessing such funds.

You can now get the money sent to you from abroad in cash over the counter at your bank exactly the way it was sent in foreign currency. That’s right!

But there is more……You can also choose to have the funds remitted into your domiciliary account in the same currency it was sent without any hassle or stress.

This is such great news especially at this time of the year where such remittances are expected. Most of us have sisters, brothers, uncles, aunts, even spouses abroad and they are likely to send us some money for Christmas and the new year.

Now if you have money being sent to you from abroad, just walk into your receiving bank, provide the required documents and receive your money in cash i.e., foreign currency as sent over the counter or you can have it deposited into your domiciliary account.

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