* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Thursday, July 10, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

    Monumental Sports & Entertainment’s Samantha Brady on the Power of the RSN’s Direct-to-Consumer Streaming Service Monumental+ – Sports Video Group

    Samantha Brady Reveals How Monumental+ is Transforming Sports Streaming with Direct-to-Consumer Access

    Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

    Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    SMPTE Opens Early Bird Registration for Media Technology Summit – TVTechnology

    SMPTE Launches Early Bird Registration for Exciting Media Technology Summit

    Google Fiber puts Nokia network slicing technology to the test – Fierce Network

    Google Fiber Puts Nokia’s Network Slicing Technology to the Ultimate Test

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    Technology And Construction Names Join Top Stock Lists: Check Out Additions To IBD 50, Big Cap 20 And More – Investor’s Business Daily

    Technology and Construction Leaders Surge Into Top Stock Rankings: See the Latest Additions to IBD 50, Big Cap 20, and More

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Immersive sports and entertainment venue Cosm set to build its 5th location in Cleveland – WKYC

    Cosm Reveals Exciting Vision for Its 5th Immersive Sports and Entertainment Venue in Cleveland

    Monumental Sports & Entertainment’s Samantha Brady on the Power of the RSN’s Direct-to-Consumer Streaming Service Monumental+ – Sports Video Group

    Samantha Brady Reveals How Monumental+ is Transforming Sports Streaming with Direct-to-Consumer Access

    Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

    Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

    SMPTE Opens Early Bird Registration for Media Technology Summit – TVTechnology

    SMPTE Launches Early Bird Registration for Exciting Media Technology Summit

    Google Fiber puts Nokia network slicing technology to the test – Fierce Network

    Google Fiber Puts Nokia’s Network Slicing Technology to the Ultimate Test

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    Kaseya Extends Community Investment with Addition of Technology Marketing Toolkit – Kaseya

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    Technology And Construction Names Join Top Stock Lists: Check Out Additions To IBD 50, Big Cap 20 And More – Investor’s Business Daily

    Technology and Construction Leaders Surge Into Top Stock Rankings: See the Latest Additions to IBD 50, Big Cap 20, and More

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

CBN Approves eNaira As Payment Option For Diaspora Remittance

June 19, 2023
in Business
CBN Approves eNaira As Payment Option For Diaspora Remittance
Share on FacebookShare on Twitter
E-Naira, Godwin Emefiele, CBN
E-Naira


FIRS

CBN Approves eNaira As Payment Option For Diaspora Remittance

The Central Bank of Nigeria (CBN) has announced the introduction of its digital currency known as the eNaira as a payment option to recipients of diaspora remittance.


The apex bank said the move was in furtherance of efforts to liberalise the payout of diaspora remittance.


The new policy was contained in the bank’s circular titled: “Operational Framework for eNaira Payment Option to Recipients of Diaspora Remittances,” and dated June 15, 2023.

The circular, which was obtained by Economic Confidential, was addressed to the International Money Transfer Operators (IMTOs) and the public.


The CBN said the guidelines in the circular signed by CBN Director, Trade and Exchange Department, Dr. Ozoemena Nnaji, would facilitate the payment of proceeds of diaspora remittances to recipients who choose eNaira as a payment alternative.

Under the guidelines, the IMTOs are required to apply for a one-time “No-Objection” to pay out in eNaira from the Central Bank of Nigeria (CBN).


The bank shall also provide account details where foreign currency from IMTOs shall be received.


The CBN however, stressed that the receipt of proceeds of diaspora remittance in eNaira remained optional, adding that the option of the digital currency payout shall run concurrently with the dollar payout.

According to the framework, IMTOs are required to open merchant wallets through the CBN and pre-fund the CBN account with foreign currency.


The central bank will consequently fund the IMTO merchant wallet with eNaira equivalent of the foreign currency earlier pre-funded by the latter.


The CBN further explained that the payment procedure shall involve a sender initiating a diaspora transfer with an IMTO of choice overseas providing details of the beneficiary’s wallet.

The IMTO then logs into the eNaira web wallet portal, debits its eNaira merchant wallet, and credits the beneficiary with the eNaira equivalent of the foreign currency sent at the origin at the I&E window rate.


Alternatively, the apex bank noted that IMTO could integrate with the eNaira portal from its platform via API provided by CBN and initiate the transfer of eNaira equivalent of the foreign currency sent at the origin at the I&E window rate.

An initiative of the central bank, eNaira was unveiled on October 25, 2021, by former President Muhammadu Buhari to drive a more cashless, inclusive, and digital economy as well as complement the gains of previous monetary policy measures and fast-growing payments platforms.

The digital innovation is expected to support a resilient payment system ecosystem, encouraging rapid financial inclusion, reducing the cost of processing cash, enabling direct and transparent welfare intervention to citizens, and increasing revenue and tax collection.

Essentially, the eNaira would also facilitate diaspora remittances, reducing the cost of financial transactions, and improving the efficiency of payments.


According to the apex bank, the eNaira remains the country’s digital equivalent of the physical Naira.

“The eNaira – like the physical Naira – is a legal tender in Nigeria and a liability of the CBN. The eNaira and Naira will have the same value and will always be exchanged at 1 naira to 1 eNaira,” the bank reportedly noted.

digital marketing submit guest post

Read More

Tags: ApprovesbusinesseNaira
Previous Post

Private Pilgrims: NAHCON to Intervene in Arik Air Standoff

Next Post

Domiciliary Accounts: CBN Lifts Deposit Restriction, Allows $10,000 Withdrawals Daily

2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

July 10, 2025
Bulldogs Land Eight on Athlon Sports Preseason All-CUSA Team – LA Tech Athletics

Bulldogs Shine with Eight Players Named to Preseason All-CUSA Team

July 10, 2025
ECOLOGY ACTION CENTER – Ad from 2025-07-06 – The Pantagraph

See How the Ecology Action Center is Revolutionizing Environmental Change

July 10, 2025
Climate Disasters Like Texas Floods Moving Faster Than Science Can Keep Up – The Energy Mix

Climate Disasters Like Texas Floods Moving Faster Than Science Can Keep Up – The Energy Mix

July 10, 2025
The Best Science Fiction Novels to Read Right Now – The New York Times

Top Science Fiction Novels You Can’t Miss Right Now

July 10, 2025
This is the Summer of CoAqua. CoAqua Isn’t Just a Coconut Water — It’s a Lifestyle Brand That Disrupted the Hydration Game with Bold Flavors, Design-Forward Packaging, and a Good Mission – Nosh.com

This is the Summer of CoAqua. CoAqua Isn’t Just a Coconut Water — It’s a Lifestyle Brand That Disrupted the Hydration Game with Bold Flavors, Design-Forward Packaging, and a Good Mission – Nosh.com

July 10, 2025
Manchester United hope new stadium will host 2035 World Cup final, aim to finish project in 5 to 6 years – The New York Times

Manchester United hope new stadium will host 2035 World Cup final, aim to finish project in 5 to 6 years – The New York Times

July 10, 2025
Alaska is America’s worst state for business in 2025 as falling oil prices sink economy – CNBC

Alaska Braces for Toughest Business Climate in 2025 Amid Plummeting Oil Prices

July 10, 2025
Access Health CT expects significant drop in insurance enrollees as aid ends, Medicaid cut – CT Insider

Access Health CT Faces Steep Drop in Insurance Enrollments After Aid and Medicaid Reductions

July 10, 2025
The nation’s cartoonists on the week in politics – Politico

Top Cartoonists Bring This Week’s Political Drama to Life

July 10, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (714)
  • Economy (737)
  • Entertainment (21,626)
  • General (15,816)
  • Health (9,774)
  • Lifestyle (744)
  • News (22,149)
  • People (739)
  • Politics (747)
  • Science (15,955)
  • Sports (21,236)
  • Technology (15,723)
  • World (720)

Recent News

2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

2025 WE Local Prague Recap: Inspiring Women in Engineering and Technology – Society of Women Engineers

July 10, 2025
Bulldogs Land Eight on Athlon Sports Preseason All-CUSA Team – LA Tech Athletics

Bulldogs Shine with Eight Players Named to Preseason All-CUSA Team

July 10, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version