Nigeria clamps down on money transfers to the country
The Central Bank of Nigeria has suddenly changed its policy toward money transfer operators, effectively blocking many services used by Nigerians to send money to and from the country.
‘Draconian’ rules – The sudden move has created immediate backlash because it affects a large volume of money. Remittances to Nigeria totaled about $20.8 billion in 2015, according to data from Global Knowledge Partnership on Migration and Development.
Source: CNN (link opens in a new window)