• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, August 16, 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
7 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

Firm Expands Market Access With Tokenised Stocks For Nigerian Traders

Firm Expands Market Access With Tokenised Stocks For Nigerian Traders

8 hours ago
JUST-IN: Inflation Rises To 28.20%

JUST-IN: Nigeria’s Inflation Eases Further To 21.88%

11 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

US based Nigerian used a secret app to catch his cheating wife in Nigeria, Click here to see step by step on how he uncovered the truth


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

Firm Expands Market Access With Tokenised Stocks For Nigerian Traders
Business

Firm Expands Market Access With Tokenised Stocks For Nigerian Traders

2025/08/15
JUST-IN: Inflation Rises To 28.20%
Business

JUST-IN: Nigeria’s Inflation Eases Further To 21.88%

2025/08/15
Federal Mortgage Bank Disclaims HXAfrica’s N40m Pre-financing Scheme
Business

Federal Mortgage Bank Records N13bn Surplus

2025/08/15
Firm Intensifies Campaign On Micro Pension
Business

PenCom DG Advocates 20% Pension Contribution For Police

2025/08/15
N12bn Fraud Rocks Rural Electrification Agency
Business

REA Meets CDS On Powering Military Bases With Solar

2025/08/15
Equities Market Rebounds By N95bn Gain
Business

Equities Market Loses N357bn Over Sustained Profit-taking

2025/08/15
Leadership Conference advertisement

LATEST

Amid Hunger, Nwaoma Foundation Feeds The Needy In Imo, Abuja, Lagos

Nigerian Music PR, Marketing Expert David Adeyemi Joins Grammy Recording Academy

Reps Deny Receiving Bribes To Sponsor Motions, Bills, Petitions

INEC Obeys Court Order, Includes SDP In Saturday’s By-elections

PICTORIAL: NCoS Promotes 30 Senior Officers To Assistant Controller-General Rank

Nigeria Condemns Canadian Court’s Labelling Of APC, PDP As Terrorist Groups

Veteran Yoruba Actor ‘Chief Kanran’ Dies At 72

By-elections: IGP Orders Watertight Security, Deploys AIGs, CPs

Court Jails Italy-Bound Traveller Caught With 7.6kg Of Tramadol

Appoint Competent INEC Chairman, Yiaga Africa Tells Tinubu

© 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.