CBN Issues IMTOs Naira Access To Boost Remittances

Central Bank of Nigeria unveils new measures to boost naira liquidity and raise diaspora remittances.
This was revealed in a circular signed by acting director of the trade and exchange department, Mr. W. J. Kanya, to widen access to local currency liquidity, ensuring smoother and more efficient settlement processes for remittances.
Under this new guidelines, eligible International Money Transfer Operators (IMTOs) will have access to naira liquidity through the bank’s window or via their Authorised Dealer Banks (ADBs) to execute foreign exchange transactions.
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