Home Business CBN directs payment of dollar receipts in naira

CBN directs payment of dollar receipts in naira


CBN directs payment of dollar receipts in naira

From the Central Bank of Nigeria (CBN) yesterday came a directive to International Money Transfer Operators (IMTOs): pay dollars received through Diaspora remittances to domestic beneficiaries in naira.

A circular to banks, IMTOs and the public by CBN Director, Trade and Exchange Department, O.S Nnaji, listed 62 approved IMTOs to carry out the directive.

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In the list are Western Union, World Remit Limited, CashPot Limited, eTransact International Limited, Leadremit Limited, Flutterwave Technology Solutions Limited, and Interswitch Limited.

Others are Belyfted Limited, Caperemit UK Limited, Chime In (Sendwave), Colony Capital Limited, Comet Trading Nigeria Limited, CSL Pay Limited, CP Express Limited, among others.


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  1. Allow the free market to reign. Bad policy. Don’t forces dollar recipients to take Naira. These imtos will shortchange people 🙄


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