CBN Rolls the Dice to Tackle Market Liquidity and Dollar Dearth – The CBN has issued series of circulars from special bills to new regulations for Diaspora remittances. These new policies triggered a quick appreciation of the naira from N500/$ to N470/$ at the parallel market on December 3. The naira had lost over 30% YTD due to limited forex inflows and heightened forex demand.
Regulations for Diaspora Remittances:
The CBN through a circular released on December 2 announced that beneficiaries of Diaspora remittances can now receive funds in foreign currency or directly into their domiciliary accounts.
The aim was to boost and facilitate the efficient flow of remittances into the country from Nigerians in Diaspora. According to the CBN governor, these amendments are a result of an internal review of the operations of International Money Transfer Operators (IMTO) in the country (Western Union, MoneyGram and RIA Money Transfer) and the potential impact of improved inflows on the economy.
Read also: CBN Rolls out Nationwide Cashless Policy Implementation Timelines
Remittance inflows into Nigeria fell by about 40% in Q2’20 partly due to restrictions on the use of dollars by beneficiaries and the widening gap between the parallel market and official rates.
Analysis
This decision by the CBN will encourage remittance inflows through official channels and possibly reduce forex smuggling and arbitrage practices in the country significantly.
In addition, some analysts describe it as a game changer as it could help address the imploding problems of forex scarcity and the widening balance of trade deficit. In its latest foreign trade statistics report the NBS stated that the country’s trade deficit expanded by N2.39trn in Q3’20.
GOODDAY SIR/MA
Have you held about lavita trust Investment platform, am not talking about MMM or Others Ponzi SCHEME
Lavita Trust Investment is a matrix system which give you DOUBLE of your CAPITAL back in (45min) after registration.
/
LAVITA PACKAGES
N20,000——N40,000
N40,000——N80,000
N50,000——N100,000
N100,000—–N200,000
N150,000—–N350,000
N300,000—–N600,000
N200,000—–N400,000
N400,000—–N800,000
N500,000—–N1,000,000
/
NOTE: we credit your account after 45mins of Your Registeration
INTRODUCTION
LAVITA TRUST Investment is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.
/
09068834101
/
ITS SIMPLE HERE!!!!!!!
We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 100k within 25mins we make profit of 300k then send 200k to you then profit 100k This is not mmm where they merge people to donate for each other
You pay directly to us and we credit you directly
/
Contact Mrs. FUMI BLESSING
09068834101
/
NOTE:- YOU GET CREDITED BACK IN LESS THAN 45 MINUTES
/
CHAT US-UP IF INTEREST FILL YOUR FORM AND START EARNING, ,
NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem.