"Naira 4 Dollar Scheme": Central Bank new Dollar to Naira promo explained

Central Bank of Nigeria [CBN] don announce di introduction of di CBN "Naira 4 Dollar Scheme".

E mean say on top every one dollar payment alias transaction pesin make to Nigeria through di International Money Transfer Organization, CBN go dash di pesin five naira [N5] awoof.

For example, wit dis new "Naira 4 Dollar Scheme", if someone send you $100,000, you fit get an additional special credit alert for N500,000.

For one circular wey Central Bank of Nigeria release over di weekend, CBN wey be di highest regulating bank for Nigeria say dem go through commercial banks, pay those wey dey receive di dollar, di five naira [N5] awoof alias incentive for every USD$1".

Dis one simply mean say na di CBN dey pay di cost of dis special extra credit.

#CBN introduces the CBN’s “Naira 4 Dollar Scheme” for Diaspora Remittances – an incentive for senders and recipients of International Money Transfers ..https://t.co/7g7vIZfd6Z

— Central Bank of Nigeria (@cenbank) March 6, 2021