Sign The Petition: Central Bank Of Nigeria Must Reverse Its Strange Policy On Money Transfer To Nigeria

By 11:12 Fri, 05 Aug 2016 Comments

Dear Laila,I am a very frequent visitor to your blog and regularly contribute, albeit anonymously.  I have just created a petition at '' to ask the Central Bank of Nigeria to reverse its strange policy change on money transfer to Nigeria, and would be grateful if you would post this on your blog in the hope that many would join me. 

The link to the petition is at the end of this post.Hello Nigerians, Until the 2nd August 2016, Nigerians living outside the country could use any number of money transfer service providers to send money to their loved ones in Nigeria.  This

created a very competitive environment that ensured that charges were reasonable and the rates offered were good.For reasons known only to itself, the Central Bank of Nigeria has restricted the list of money transfer service providers to only 3 viz: Western Union, MoneyGram and Ria.  Ria is only available to users from the USA and Spain. Given that: 1. The Nigerian economy is currently in a difficult state and a lot of ordinary Nigerians benefit from the $20bn that the country receives annually in income from Nigerians living outside the country. 2. The antecedent of the selected money transfer service providers, especially Western Union (they offer very low rates,  high charges and poor service) is one of exploitation in the face of stifled competition;3. The ease with which money transfer could be processed and the speed of getting funds to family without the stress of looking for agents and joining unending queues, whilst also finding the time to engage in the employment that generates that fund;One cannot help but wonder what madness (or bribery) prompted the Central Bank of Nigeria's Governor (Mr Emefiele) and his team to make this change without warning and without any announcement to Nigerians.President Buhari is an avowed fighter against corruption.  It appears that the filth of corruption in those in whom he has reposed the trust to help discharge his mandate, is seeking every avenue to assert itself.  It is in every Nigerian's interest to confront this pond life wherever it raises its ugly head.Please sign this petition to get the message to Mr Emefiele that he must reverse his strange policy shift without delay. This petition will be delivered to Central Bank of Nigeria.Link is here -  CBN, Unblock money transfer providers



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