{"id":38487,"date":"2021-03-06T18:24:24","date_gmt":"2021-03-06T18:24:24","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/?p=38487"},"modified":"2021-03-06T16:42:34","modified_gmt":"2021-03-06T16:42:34","slug":"cbn-announces-new-n5-incentive-for-every-us1-remittance","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-announces-new-n5-incentive-for-every-us1-remittance","title":{"rendered":"CBN announces new N5 incentive for every US$1 remittance"},"content":{"rendered":"

Africa-Press<\/a> – Nigeria<\/a>. <\/strong><\/span>The Central Bank of Nigeria, CBN, has announced a new \u201cCBN Naira for Dollar Scheme \u201dfor senders and recipients of International money transfers.<\/p>\n

The CBN in a statement released by its Director, Trade and Exchange Department, A.S Jibrin, said it will through commercial banks pay to remittance recipients the Incentive of N5 for every USD1 remitted by the sender and collected by the designated beneficiary.<\/p>\n

It also stated that the incentive is to be paid to the recipients\u2019 whether they choose to collect the USD as cash or as a transfer into their domiciliary account.<\/p>\n

\u201cIn its efforts to sustain the increase in inflows of diaspora remittances into the country, the Central Bank of Nigeria, CBN hereby announces the introduction of the \u201cCBN Naira 4 Dollar Scheme\u201d an initiative for senders and recipients of International Money Transfers.<\/p>\n

\u201cAccordingly, all recipients of diaspora remittances through CBN licensed IMTOS shall henceforth be paid N5 for every USD 1 received as remittance inflow.<\/p>\n

\u201cHaving discussed with banks and IMTOs, the scheme takes effect from Monday 8 March 2021 and ends on Saturday 8 May 2021,\u201d the statement said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Central Bank of Nigeria, CBN, has announced a new \u201cCBN Naira for Dollar Scheme \u201dfor senders and recipients of International money transfers. The CBN in a statement released by its Director, Trade and Exchange Department, A.S Jibrin, said it will through commercial banks pay to remittance recipients the Incentive of N5 […]<\/p>\n","protected":false},"author":84,"featured_media":38486,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,28,26],"tags":[1570,2140,503,254],"class_list":["post-38487","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-nigeria-2","tag-cbn","tag-nigeria"],"yoast_head":"\nCBN announces new N5 incentive for every US$1 remittance - Nigeria<\/title>\n<meta name=\"description\" content=\"The Central Bank of Nigeria, CBN, has announced a new \u201cCBN Naira for Dollar Scheme \u201dfor senders and recipients of Intern ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-announces-new-n5-incentive-for-every-us1-remittance\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBN announces new N5 incentive for every US$1 remittance\" \/>\n<meta property=\"og:description\" content=\"The Central Bank of Nigeria, CBN, has announced a new \u201cCBN Naira for Dollar Scheme \u201dfor senders and recipients of Intern ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-announces-new-n5-incentive-for-every-us1-remittance\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-06T18:24:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/03\/img-6043b0de6597e.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-announces-new-n5-incentive-for-every-us1-remittance#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-announces-new-n5-incentive-for-every-us1-remittance\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CBN announces new N5 incentive for every US$1 remittance\",\"datePublished\":\"2021-03-06T18:24:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-announces-new-n5-incentive-for-every-us1-remittance\"},\"wordCount\":192,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-announces-new-n5-incentive-for-every-us1-remittance#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2021\/03\/img-6043b0de6597e.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Nigeria\",\"CBN\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-announces-new-n5-incentive-for-every-us1-remittance#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-announces-new-n5-incentive-for-every-us1-remittance\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/cbn-announces-new-n5-incentive-for-every-us1-remittance\",\"name\":\"CBN announces new N5 incentive for every US$1 remittance - 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