Diaspora Remittances, Domiciliary Accounts Become Battlegrounds For Nigeria’s FX Crisis

By Ekemini On Dec 2, 2020

Truth is no one will gladly send a dollar to Nigeria at N390 if he or she can get N490-500 for the same dollar.

Nigeria moved over night to correct a big anomaly in the way it engages with its people and their hard-earned dollars. The Central Bank issued a circular which seeks to eliminate a great part of the barrier to diaspora inflows to Nigeria by saying that those who get remittances from abroad will now be able…