Signal: Nigeria's Naira-Only Payout Rewrites the Remittance Math
Senders to Nigeria no longer choose the currency, only the rate, and that shift echoes across every diaspora corridor.
The Central Bank’s naira-only settlement rule, live since May 1, removes the dollar payout option for inbound transfers and makes the applied rate the whole game. The risk is plain: if official and parallel rates split, price-sensitive senders go informal.
What this means for you: read today’s Nigeria report before your next transfer, and compare the rate each operator quotes.