NIDCOM boss commends CBN on Diaspora Remittance Scheme  

Abuja, March. 9, 2021:

Hon. Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora Commission (NIDCOM) has commended the Central Bank of Nigeria (CBN) on the introduction of “NAIRA 4 DOLLAR SCHEME” for Diaspora Remittances,

following its policy of remittance issuance in the currency of remittance

 Dabiri-Erewa said that the scheme is a welcome  idea as the policy will encourage Diasporans to send money through official channels.

The CBN Naira 4 Dollar scheme is an incentive for senders and recipients of International Money Transfer whereby recipients of Diaspora Remittances through CBN licensed International Money Transfer Operators (IMTOs) shall be paid N5 per every dollar received as remittance inflow.

The NIDCOM boss said the policy, if well implemented ,will positively impact the economy of the country.

She said NIDCOM is finalising a Nigerian diaspora investment fund through which Nigerians in diaspora can structure and channel their investments, adding that the response of Nigerians abroad to the Nigerian Diaspora investment summit has been very encouraging and impactful.