Nigeria: Diaspora Remittances - Access Bank to Pay Customers N5 for Every $1 Received

23 March 2021

In a bid to promote diaspora remittances into the country, Access Bank Plc will be rewarding customers with N5 on every $1 received from their loved ones or associates abroad through foreign remittances.

The N5 for every dollar cash back will be paid to Access Bank customers irrespective of their preference to receive funds as US dollars cash pick-up over the counter or direct transfer into their domiciliary accounts.

The reward scheme is in line with the Central Bank of Nigeria's "Naira4Dollar scheme" aimed at encouraging inflow of diaspora remittances into the country.

Speaking on the initiative, Victor Etuokwu, Executive Director, Retail Banking, Access Bank Plc, said: "Remittance services are a key aspect of our economy and it is still vibrant and viable today because people still take care of family members, loved ones, friends and invest at home even as they live abroad.

"As part of our promise to create value and meet the needs of our customers, we are happy to announce that our customers can now receive the N5 for every $1 incentive, at any of our branches nationwide when their loved ones or associates send funds from the diaspora."

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