Receive N5 for every $1 remitted to Nigeria

Receive N5 for every $1 remitted to Nigeria

According to the Central Bank of Nigeria, "In an effort to reduce the cost burden of remitting funds to Nigeria by working Nigerians in the Diaspora, the #CBN has introduced a rebate of N5 for every $1 of fund remitted to Nigeria, through IMTOs licensed by the CBN. The Scheme will take effect on the 8th of March 2021.

We believe this new measure will help to make the process of sending remittances through formal bank channels cheaper and more convenient for Nigerians in the diaspora. #Emefiele"

Recipients of money through VCASH can still take advantage of this new promo by the CBN. Recipients should visit any of our partner banks in Nigeria, communicated to you via SMS or email to learn more.

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Dr. Peter O.

Expert in Mobile Payments, E-Commerce, and Blockchain-based Remittances.

4 年

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