CBN targets $2bn monthly diaspora remittances as new FX policy kicks off friday

New pressure on the BoP from remittances

Liabilities adjusted for assets on the BoP, came to US$1.0bn and -US$9.3bn (negative) in the same 12 months

The Central Bank of Nigeria (CBN) is targeting about $2billion monthly as diaspora remittances with the latest foreign exchange policy which amended procedures for receiving money from abroad. The new policy will commence on Friday, December 4, 2020, CBN governor, Godwin Emefiele confirmed on Thu

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