in ,

Ecobank Nigeria Responds to CBN’s Diaspora Remittances Policy Amendment

Ecobank Nigeria has responded to the recent amendment of procedures by the Central Bank of Nigeria (CBN) regarding beneficiaries of diaspora remittances through International Money Transfer Operators (IMTOs).

Ecobank by TechRectory
ecobank by TechRectory

Ecobank Nigeria has taken swift action in response to the recent amendment of procedures for beneficiaries of diaspora remittances by the Central Bank of Nigeria (CBN). As per the new policy, recipients can now receive their transfers in dollars or opt for direct payment into their domiciliary accounts.

Patrick Akinwuntan,the Managing Director of Ecobank Nigeria, assured customers that the bank is actively working to ensure a seamless implementation of the policy. He encouraged Nigerians to open or reactivate their Ecobank domiciliary accounts to fully utilize the benefits of the new system.

Akinwuntan emphasized that customers have the freedom to choose the mode of receipt that suits them best. Ensuring a customer-centric approach. Akinwuntan also urged Nigerians to open the Ecobank domiciliary account or reactivate their inactive ones with the bank in order to take advantage of the policy.

According to him, “We are leaving no stone unturned to ensure that our customers instantly receive their transfers as cash (USD) or transfers into their domiciliary accounts.

In addition to these efforts, Ecobank is leveraging its proprietary money transfer platform, Rapidtransfer, to enable Nigerians abroad to remit home instantly at affordable charges. The bank has also introduced a new version, Rapidtransfer International, specially designed for Nigerians residing in Europe, and both apps are being enhanced to meet the updated requirements. Also, speaking about the money transfer platform, he said, “Our proprietary money transfer platform, Rapidtransfer, available on the App Store and Play Store, makes it possible for Nigerians abroad to remit home instantly at very affordable charges.”

Furthermore, Ecobank is collaborating with renowned remittance partners like Western Union, MoneyGram, Ria, Small World, among others, to deliver maximum value and convenience to its customers in this new landscape of diaspora remittances. The bank is determined to uphold its commitment to providing efficient and customer-friendly services for all its users.

Also Read More, Here.

See also Tourism value chain a trillion-dollar industry, says NTDA DG

Leave a Reply

Your email address will not be published. Required fields are marked *

What do you think?

Written by Grace Ene

Author for Techrectory.

Nigerian Stock Exchange | Techrectory

Nigeria’s Stock Exchange Safeguards Shareholder Rights