Saturday 17 April 2021
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allafrica - 1 month ago

Nigeria: Why the CBN s Latest Initiative Is a Mark of Undistilled Genius

[Premium Times] So unusual is the latest intervention by the Central Bank of Nigeria (CBN) in the monetary policy space that it was bound to set tongues wagging. Last week, in a circular dated March 5, 2021, the CBN introduced its Naira 4 Dollar Scheme , in which it promised that through commercial banks, it will pay to remittance recipients the incentive of N5 for every US$1 remitted by sender and collected by designated beneficiary .


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