CBN bars local deposits for newly launched diaspora-focused accounts

The Central Bank of Nigeria (CBN) has prohibited local deposits into the newly launched Non-Resident Nigerian Ordinary Account (NRNOA) and Non-Resident Nigerian Investment Account (NRNIA), designed to cater specifically to Nigerians living abroad. This directive, outlined in a circular issued by the apex bank on January 10, 2025, highlights the CBN’s focus on channelling external [...]The post CBN bars local deposits for newly launched diaspora-focused accounts appeared first on Nairametrics.

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