The apex bank disclosed this in a circular signed by the Director, Trade and Exchange Department, CBN, Saleh Jibrin, titled: “Re: Introduction of the CBN’s “Naira 4 Dollar Scheme’’, for Diaspora Remittances.”
Browsing: Naira 4 Dollar Scheme
The acting Managing Director/CEO of Polaris Bank, Innocent Ike disclosed that “growing evidence has shown a positive relationship between diaspora remittances and economic growth and as such, the bank will continue to contribute its quota to enhancing economic development in the country”.
They made the assertion in separate interviews with the News Agency of Nigeria on Monday in Lagos.
Emefiele said this in a series of tweets on CBN’s verified Twitter handle.
The reward to customers is in line with the Central Bank of Nigeria’s ‘Naira 4 Dollar scheme’, driven to promote diaspora remittances into the country. For example, a customer that receives 10,000 USD, gets N50,000.00 as reward. The scheme runs from Monday, 8 March – Saturday, 8 May 2021.
The scheme was to encourage increase of diaspora remittances into the country.
The incentive, tagged “Naira 4 Dollar Scheme”, was announced in a circular signed by Saleh Jibrin, CBN ‘s Director, Trade and Exchange Department.