ADVERTISEMENT
  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Wednesday, October 29, 2025
NewsOnline Nigeria
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
No Result
View All Result
NewsOnline Nigeria
No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports
ADVERTISEMENT
Home Economy And Business

BREAKING: CBN Introduces Investment Bank Accounts For Nigerians In Diaspora

“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.

by NewsOnline Nigeria
January 10, 2025
in Economy And Business, Headline
0
CBN

Central Bank of Nigeria

CBN has introduced investment bank accounts for Nigerians in the diaspora.

 

NewsOnline Nigeria reports that 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 the 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) to remit their foreign earnings to Nigeria and manage funds in both foreign and local currencies.

 

ALSO: South-East Governors Pledge Strong Support For Ohanaeze Ndigbo

 

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 the 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.

“This policy is without prejudice to Memorandum 17 of the CBN Foreign Exchange Manual (2018).”

Previous Post

BREAKING: South-East Governors Pledge Strong Support For Ohanaeze Ndigbo

Next Post

Black Market Dollar To Naira Exchange Rate In Lagos, FCT, 11th January 2025

Next Post
Naira

Black Market Dollar To Naira Exchange Rate In Lagos, FCT, 11th January 2025

Trending Stories

No Content Available

Latest Stories

Mikel Obi Backs Arsenal for Premier League Glory as Shearer Highlights Team’s Key Strengths

NCAA

Airfare to Rise as NCAA Imposes New $11.5 Levy on All Nigeria-Bound Flights

CCB

CCB Uncovers Discrepancies After Investigating 500 Asset Declarations of Public Officers

Cubana Chief Priest Mocks Burna Boy, Crowns Davido as ‘Father of Afrobeats’

Build Yourself First Before Seeking a Wealthy Partner – Actor Uzor Arukwe Tells Women

Rapper Blaqbonez Faces Court Case Over Alleged Harassment, Circulation of Woman’s Intimate Video

J. Martins narrowly escapes death as car veers off highway into bush

Alpha Morgan Bank

Alpha Morgan Bank Expands Operations, Opens New Branch in Osogbo

Omoge Saida

Popular Socialite Omoge Saida’s Private Video Sparks Outrage Online (WATCH VIDEO HERE)

FirstBank

FirstBank Sparks Global Kindness with 2025 Corporate Responsibility and Sustainability Week

NEWSONLINE NIGERIA

Get the Latest Naija News, Breaking News, Top Stories, World News, Business, Politics & Entertainment from NewsOnline Nigeria.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us
  • Privacy Policy

ALERT US

Important Press Releases, Special Investigations: [email protected]

OFFICE ADDRESS

13 Poland Street, London, United Kingdom (UK)

Copyright © 2025 NewsOnline Nigeria

No Result
View All Result
  • Headlines
  • Top Stories
  • Politics
  • Crime Watch
  • Entertainment
  • Sports

Copyright © 2023 Newsonline Nigeria