By Joy Odor
The Chairman, Nigerians in Diaspora Commission (NIDCOM) Mrs Abike Dabiri-Erewa has commended the Central Bank Of Nigeria (CBN) on the introduction of “NAIRA 4 DOLLAR SCHEME” for Diaspora Remittances.
Dabiri-Erewa in a press statement said the scheme is a welcome idea as the policy will encourage Diasporans to send money through official channels.
The NIDCOM Chairman 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.
CBN announced last week a new policy on currency remittance.
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.
