Friday, December
04, 2020 / 06:40 PM / by WorldRemit / Header Image Credit: WorldRemit
WorldRemit, a leading digital
cross-border payments business has announced that its customers in Nigeria can
now receive remittances in foreign currency (USD) through its cash pick up
providers. Following the announcement of the Central Bank of Nigeria (CBN) a
day before, WorldRemit quickly adapted to the new requirements making it the
first digital service to offer its customers worldwide the option of cash
pickup in USD in Nigeria. WorldRemit enables Nigerians in over 50 countries
around the world to support their family and friends in Nigeria.
The decision by the
Central Bank of Nigeria (CBN) to allow international money transfers to be paid
in foreign currency, is aimed at providing increased liquidity in the foreign
exchange market. The bank explained that the new regulation is part of its
efforts to liberalize, simplify and improve the receipt and administration of
diaspora remittances into Nigeria.
Gbenga Okejimi, Country Manager, Nigeria and Ghana, at WorldRemit, said: "We are very happy to announce that customers can continue to send money to Nigeria seamlessly using WorldRemit. We have added a new option to send USD for cash pick up to approximately 3,500 cash payment points around the country. This will make international payments more convenient for Nigerians during this holiday season, when we typically see an increase in transfers."
Gbenga Okejimi emphasized
that WorldRemit customers can continue to send money transfers quickly and
securely to Nigeria via multiple payout methods such as bank accounts, cash
pick up and airtime top-up.
Records indicate that
there are approximately 15 million migrants from
Nigeria living abroad in countries such as the United States, the United
Kingdom, Canada and Italy. The Economist estimates that in 2018
alone Nigeria received $24 billion in remittances, making it the largest
recipient in Africa.
The efforts from the CBN
and WorldRemit, shows a collaborative approach to supporting remittance flows
to Nigeria. For more information, please visit www.worldremit.com.
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