CBN Okays eNaira as Payment Option for Diaspora Remittance
The Central Bank of Nigeria (CBN) has announced the launch of the eNaira, its digital currency, as a payment option for recipients of remittances from the diaspora. The move, according to the apex bank, was made to advance efforts to liberalise the distribution of diaspora remittances. The bank’s circular titled “Operational Framework for eNaira Payment Option to Recipients of Diaspora Remittances,” dated June 15, 2023, contained the new policy. The circular, which was acquired, was...