Close Menu

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Nnamdi Kanu Medically Fit To Stand Trial – NMA

    October 16, 2025

    Senate Confirms Amupitan As INEC Chairman

    October 16, 2025

    I Got Tinubu’s Permission To Be Absent At Council of State Meeting – Wike

    October 15, 2025
    Facebook X (Twitter) Instagram
    Trending
    • Nnamdi Kanu Medically Fit To Stand Trial – NMA
    • Senate Confirms Amupitan As INEC Chairman
    • I Got Tinubu’s Permission To Be Absent At Council of State Meeting – Wike
    • Mbah’s Defection To PDP Came As A Rude Shock To Me – Bode George
    • Tinubu Seeks Confirmation Of Amupitan As INEC Chairman
    • Okpebholo Swears In Afegbua, 20 Others As Commissioners
    • ASUU: NLC Issues Two-Week Ultimatum To FG
    • Lagos Re-arraigns Evans For Murder Of Policemen
    Facebook X (Twitter) Instagram
    TheScrutinyNG
    Subscribe
    Friday, October 17
    • Home
    • Politics
    • Business
    • News
      • World News
    • Sports
    • Interviews
    • Opinion
    • Entertainment
    • Columnists
    • ABOUT US
    TheScrutinyNG
    Home » CBN Launches Ordinary, Investment Bank Accounts For Nigerians In Diaspora
    2 Mins ReadJanuary 11, 2025

    CBN Launches Ordinary, Investment Bank Accounts For Nigerians In Diaspora

    By Samuel AkpenpuunJanuary 11, 2025No Comments2 Mins Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Email
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The Central Bank of Nigeria, CBN, on Friday announced it has introduced the Non-Resident Nigerian Ordinary Account (NRNOA) and Non-Resident Nigerian Investment Account (NRNIA) for Nigerians in diaspora.

    CBN disclosed this in a circular to all authorized dealer banks and the general public noting that NRNOA will enable Non-Resident Nigerians (NRNs) remit their foreign earnings to Nigeria and manage funds in both foreign and local currencies.

    The apex bank also said that the NRNIA will enable NRNS to invest in assets in Nigeria in either foreign currency or local currency (Naira).

    The circular signed by Ag. Director, Trade and Exchange Department, CBN, Dr. W.J Kanya stated: “The Central Bank of Nigeria is pleased to inform the general public of the introduction of the NRNOA and NRNIA targeted at Nigerians in diaspora.

    “The NRNOA enables Non-Resident Nigerians (NRNs) to remit their foreign earnings to Nigeria and manage funds in both foreign and local currencies, while the (NRNIA) enables Non-Resident Nigerians (NRNS) to invest in assets in Nigeria in either foreign currency (FCY) or local currency (Naira).

    “Account holders may maintain both a foreign currency (FCY) account and/or a local currency (Naira) account to facilitate transactions and participate in diverse investment opportunities.

    “The benefits derivable include but are not limited to the following: Improved access for NRNs to opportunities in the Nigerian economy and increased contribution of diaspora community to the socio-economic development of Nigeria.

    “NRNS can use their NRNIA to participate in Nigeria’s Diaspora Bond and other debt
    instruments issued locally specifically targeted at the Nigerian diaspora or available to the investing public.

    “The account will also serve as a conduit for NRNs to manage their funds directly in a
    safe and secure environment, and reduce the reliance on third parties in meeting local
    commitments and obligations.

    “Effective 1st January 2025, eligible NRNS shall have the opportunity to own any of the Non-resident Nigerian accounts, subject to meeting KYC requirements which will be made available in FAQs to be released soon.

    Author

    • Samuel Akpenpuun
      Samuel Akpenpuun

      View all posts
    Central Bank of Nigeria
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Samuel Akpenpuun

    Related Posts

    Breaking News

    PENGASSAN Begins Nationwide Strike Over Mass Sack At Dangote Refinery

    September 28, 2025
    Banking & Finance

    Nexamont Acquires 21.4% Percent Stake In Royal Exchange PLC

    September 24, 2025
    Breaking News

    Third Mainland Bridge Rehabilitation To Cost N3.6tr – Umahi

    August 14, 2025
    Banking & Finance

    Otudeko Exits FirstHoldco, Sells 25 Percent Majority Stake

    July 17, 2025
    Economy

    My Meeting With Abacha Not For Political Gains – Peter Obi

    July 9, 2025
    Banking & Finance

    Banks To Report Customer Transactions That Exceed N5m – NOA

    July 9, 2025

    Subscribe to News

    Get the latest sports news from NewsSite about world, sports and politics.

    Editor's Picks

    Nnamdi Kanu Medically Fit To Stand Trial – NMA

    October 16, 2025

    Senate Confirms Amupitan As INEC Chairman

    October 16, 2025

    I Got Tinubu’s Permission To Be Absent At Council of State Meeting – Wike

    October 15, 2025

    Mbah’s Defection To PDP Came As A Rude Shock To Me – Bode George

    October 15, 2025
    Latest Posts
    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • US Politics
    • EU Politics
    • Business
    • Opinions
    • Connections
    • Science

    Company

    • Information
    • Advertising
    • Classified Ads
    • Contact Info
    • Do Not Sell Data
    • GDPR Policy
    • Media Kits

    Services

    • Subscriptions
    • Customer Support
    • Bulk Packages
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 The Scrutiny. Designed by Design Streams.

    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.