• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, June 8, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

CBN Unveils Account To Attract Investments From Nigerians In Diaspora

by Leadership News
5 months ago
in Business
CBN governor, Dr Olayemi Cardoso

CBN governor, Dr Olayemi Cardoso

Share on WhatsAppShare on FacebookShare on XTelegram

Central Bank of Nigeria (CBN) has introduced a non-resident Nigerian Investment Account (NRNIA) and Non-Resident Nigerian Ordinary Account (NRNOA) to manage funds (both in foreign and local currencies) from Nigerians in diaspora.

Advertisement

The apex bank disclosed this on Friday in a circular signed by W.J. Kanya, acting director, Trade and Exchange Department. It stated that with the NRNOA, non-resident Nigerians (NRNs) will be able to remit their foreign earnings to Nigeria and manage funds in both foreign and local currencies.

It read, “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 bank also explained that 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.

RELATED

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth

17 hours ago
2025 Budget: Outcry As Agency Appropriates N6bn On Frivolities

2025 Budget: Outcry As Agency Appropriates N6bn On Frivolities

18 hours ago

The account is also to 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.

According to the bank, effective January 1st 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),” it added.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

START EARNING US DOLLARS as a Nigerian ($35,000) monthly. Companies are sacking their workers due to AI (artificial intelligence), business owners are in panic mode. Only the smart will make it. Click here


Tags: CBNNigerian Investment Account (NRNIA)Non-Resident Nigerian Ordinary Account (NRNOA)
SendShareTweetShare
Previous Post

Petroleum Products Supply Imbalance Hurts Pricing Mechanism – Report

Next Post

Group Hosts Continental Bootcamp For Music

Leadership News

Leadership News

You May Like

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth
Business

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth

2025/06/07
2025 Budget: Outcry As Agency Appropriates N6bn On Frivolities
Business

2025 Budget: Outcry As Agency Appropriates N6bn On Frivolities

2025/06/07
FCCPC To Prosecute PoS Operators Over Service Price Fixing
Business

FCCPC Sets Up Committee For Anti-counterfeit Portal

2025/06/07
Asharami Energy Commits To Local Capacity Devt, Sustainable Growth
Business

Asharami Energy Commits To Local Capacity Devt, Sustainable Growth

2025/06/07
BPP, CIPS Strengthen Partnership On Procurement Practice, Sign MoU
Business

BPP, CIPS Strengthen Partnership On Procurement Practice, Sign MoU

2025/06/07
Centre Partners Niger Delta Varsity On Marine Training
Business

Centre Partners Niger Delta Varsity On Marine Training

2025/06/07
Leadership Conference advertisement

LATEST

Boko Haram Abducts Catholic Priest, 9 Others, Kills 1 In Borno

Katsina Govt Moves Against Threats To Peace, Stability

Delta Govt Approves Repair Of Palace Road, N6.7bn UBEC Grant

HURIWA Urges Federal Gov’t To Immortalise Mike Ejeagha

NDDC Will Sustain Support For Digital Transformation In Niger Delta, Says Ogbuku

Gov Eno’s Defection Will Unlock Opportunities In South-South – Okpebholo

No Trust, No Police

Risk Managers Seek Review Of Nigeria’s Early Warning Systems

$300m AMCE To Curb Medical Tourism Drain

COAS Lauds Army Veterans, Reaffirms Support For Welfare

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.