The Central Bank of Nigeria (CBN) has announced the removal of seven major banking barriers that have long made financial transactions difficult for Nigerians living abroad. This decision is aimed at making banking more seamless for the diaspora community, especially in areas like opening accounts, accessing online platforms, and sending or receiving remittances.

The move is part of CBN’s efforts to improve financial inclusion and strengthen Nigeria’s foreign exchange inflows through diaspora remittances. By simplifying banking processes, the apex bank hopes to encourage more Nigerians abroad to invest, save, and carry out transactions without unnecessary restrictions.

Experts believe this reform will not only boost trust in Nigeria’s financial system but also make it easier for citizens abroad to contribute to economic growth back home.