Investment researchers at Bancorp Securities Limited, one of Nigeria’s investment research and consulting services providers, have projected a sustained bullish price correction momentum in the Nigerian Exchange (NGX) this week as investors brace up for investment earnings from expected dividend declarations. The researchers, in the firm’s ‘Weekly Stock Recommendation for Feb. 05 – Feb. 09, […]
Tag: International Money Transfer Operators (IMTOs)
CBN Directs IMTOs To Pay Diaspora Remittances In Naira
The Central Bank of Nigeria (CBN) has ordered International Money Transfer Operators (IMTOs) to begin payment of remittances to beneficiaries in both Naira and foreign exchange (FX). Similarly, the apex bank also directed that the Investors and Exporters’ (I&E) window FX rate should be used in determining the exchange rate for Naira pay-outs. The CBN, […]
CBN Explains How Diaspora Remittances Increase To $100Mn Weekly
The Central Bank of Nigeria (CBN) has disclosed that its foreign exchange policies, particularly the ‘Naira 4 Dollar Scheme’ have led to exponential boost in diaspora remittances into the country in the past one year. The CBN Governor, Godwin Emefiele, made this disclosure at a special press briefing at the end of the Bankers’ Committee […]
CBN Incentivizes Diaspora Remittance Recipients With N5/$ Bonus
The Central Bank of Nigeria (CBN) has introduced a new incentive to encourage inflow of Diaspora remittances into Nigeria. The incentive, tagged “Naira 4 Dollar Scheme”, was announced in a circular signed by the apex bank’s Director, Trade and Exchange Department, Mallam Saleh Jibrin, at the weekend According to the circular, the scheme, which would […]