The Central Bank of Nigeria (CBN) has revealed that the nation’s official currency, the naira can now stand as a payout option for remittances from the Diaspora.

This was contained in a circular signed by CBN’s Director, Trade and Exchange Department, O.S. Nnaji.

The apex bank mandated that in ascertaining the rate for such a naira payout, the foreign exchange rate from the investors and exporters window be used.