February 25, 2021

WorldRemit backs CBN on new USD bank account opening process

Deadline on NIN/account linkage: Most banks yet to implement directive

Banking hall

WorldRemit backs CBN on new USD bank account opening process

By Nkiruka NNorom


WorldRemit, a cross-border digital payments service, has expressed support for directive of   the Central Bank of Nigeria’s (CBN)   mandating banks in Nigeria to facilitate money transfers by opening domiciliary accounts   for those who currently do not have one.

Commenting on this development,   Gbenga Okejimi, Country Manager, Nigeria and Ghana, at WorldRemit, said: “We are very pleased by the CBN’s decision to mandate Nigerian banks to help citizens who do not have a dollar account by automatically providing this facility on their behalf. This development will make all the difference to those who receive support from family and friends abroad.

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“For our part, we are excited by the fact that we can continue to enable the transfer of remittances to more people across Nigeria while also supporting the Nigerian government in its efforts to strengthen the economy. 

When our founder came up with the idea to create WorldRemit, it was with the ultimate goal of ensuring that the diaspora community could send money back home easily and through a safe platform. I am proud to say that we are constantly evolving, innovating and adapting to ensure that our customers’ needs are met efficiently”

Meanwhile, WorldRemit recently announced the expansion of its US dollar payout option with nine of its existing bank partners. Consequently, WorldRemit has the broadest and largest dollar payout network in Nigeria.