{"id":79236,"date":"2021-03-21T15:52:07","date_gmt":"2021-03-21T14:52:07","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=79236"},"modified":"2021-03-21T15:52:07","modified_gmt":"2021-03-21T14:52:07","slug":"fidelity-bank-reaffirms-support-for-cbns-new-fx-policy-push-targets-improved-diaspora-remittance-inflows","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/other-news\/fidelity-bank-reaffirms-support-for-cbns-new-fx-policy-push-targets-improved-diaspora-remittance-inflows\/","title":{"rendered":"Fidelity Bank Reaffirms Support For CBN’s New FX Policy Push, Targets Improved Diaspora Remittance Inflows"},"content":{"rendered":"
\n
Fidelity Bank Plc, a leading Nigerian bank has restated its readiness to<\/div>\n
\n
\n

continually support the Central Bank of Nigeria’s (CBN) efforts to
\nengender sustainable economic development by significantly improving
\ndiaspora remittances and foreign exchange (FX) inflows into the country.<\/p>\n

Fidelity Bank CEO, Mrs. Nneka Onyeali-Ikpe who made this known on
\nSaturday at the inaugural edition of the Fidelity Diaspora Webinar
\nSeries in Lagos stated that the bank would leverage its robust digital
\ninfrastructure, bespoke product offerings and extensive partnership with
\nInternational Money Transfer Operators (IMTOs) to strengthen remittances
\ninflows.<\/p>\n

While applauding the regulator of the financial services industry for
\nits well-timed interventions in the FX market, Mrs. Onyeali-Ikpe stated
\nthe virtual event was part of concerted efforts to deepen engagement
\nwith Nigerian citizens’ resident abroad, providing them greater clarity
\non recent policy measures by the CBN and its attendant implications for
\ndiaspora investments.<\/p>\n

“We are here today to discuss modalities of Diaspora Remittance as well
\nas awareness of investment opportunities in Nigeria. We believe when
\npeople are armed with adequate knowledge, they will be able to make
\ninformed decisions”, she explained.<\/p>\n

Shedding light on the investment opportunities available in the country
\nsuch as fixed income securities, private equity prospects in companies,
\nmodernized agriculture, urban and infrastructure renewal projects,
\namongst others, she pointed out that many Nigerians in the Diaspora are
\ntaking advantage of the bank’s Diaspora Mortgage product to acquire
\nhomes in Nigeria.<\/p>\n

“As an innovative bank, our digital link on several IMTO sites ensures
\nthat Nigerians in diaspora can open both Naira and domiciliary accounts
\nin 10 minutes and remit funds to Nigeria. Our Private Banking team can
\nhandhold interested persons for mortgage to avoid scams,” she explained.<\/p>\n

Themed ‘The New CBN FX Policy and Positive Impact to Diaspora
\nInvestments in Nigeria’, the session had in attendance notable
\nprofessionals including Nigeria’s Vice President, Prof. Yemi Osinbajo;
\nGovernor, Central Bank of Nigeria (CBN), Godwin Emefiele, who delivered
\na keynote address; and the Chairman\/CEO, Nigerians in Diaspora
\nCommission (NIDCOM), Honorable Abike Dabiri-Erewa.<\/p>\n

Other eminent personalities include the Chairman\/President of African
\nExport-Import Bank, Prof. Benedict Okey Oramah; Lead Faculty, Tekedia
\nInstitute, Prof. Ndubuisi Ekekwe; renowned Neurosurgeon and Chairman of
\nRNZ Global, Prof. Olawale Sulaiman; founder, and chairman of BEN
\nTelevision, Alistair Soyode, among others.\u00a0 Ekweke, Sulaiman and Soyode
\nall participated in the panel session where they shared their wealth of
\nknowledge and experience with attendees.<\/p>\n

On his part, Vice President Osinbajo commended the bank for the webinar
\nsession and reaffirmed his confidence in new CBN FX policy. According to
\nhim, the policy would aid more investment from Nigerians living abroad.
\nThe Vice President, who was represented by Executive Secretary\/Chief
\nExecutive Officer, Nigerian Investment Promotion Commission (NIPC), Ms.
\nYewande Sadiku, said, “Nigerians in diaspora represent an indomitable
\nforce, they are flag bearers of Nigeria’s image, Nigeria entrepreneurial
\nenergy and Nigeria’s incredible can-do attitude.<\/p>\n

“For several years, the remittances from Nigerians in diaspora exceeded
\nNigeria’s oil revenues, which translated sometimes as high as six per
\ncent of GDP. We are interested in understanding exactly how to translate
\nthis potential to investments,” he added.<\/p>\n

In his keynote address, Mr. Emefiele extended his appreciation to the
\nbank for providing a platform to discuss broad issues affecting the
\nCBN’s new FX policy. Emefiele highlighted the benefits of the newly
\nintroduced “CBN Naira 4 Dollar Scheme,” an initiative aimed at
\nincentivising senders and recipients of international money transfers.<\/p>\n

The CBN governor explained that the new policy was expected to attract
\ndiaspora remittances through the official foreign exchange channels as
\nwell as support forex stability in Nigeria.\u00a0 Speaking at the webinar,
\nOramah commended the CBN governor for the reforms taking place regarding
\ndiaspora remittances. He suggested ways to boost diaspora participation
\nin the Nigerian economy through specialised funds and accounts that
\nwould encourage them to save their long-term funds in Nigeria.<\/p>\n

Lauding Fidelity Bank for the webinar series, Oramah said, “Africans and
\nNigerians can consider allowing special diaspora foreign currency
\naccounts with higher interest rates than the US or Europe and with an
\ninbuilt guarantee against potential losses from bank failures and
\ncountry risks.”<\/p>\n<\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Fidelity Bank Plc, a leading Nigerian bank has restated its readiness to continually support the Central Bank of Nigeria’s (CBN) efforts to engender sustainable economic development by significantly improving diaspora…<\/p>\n","protected":false},"author":1,"featured_media":78453,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-79236","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other-news"],"yoast_head":"\nFidelity Bank Reaffirms Support For CBN's New FX Policy Push, Targets Improved Diaspora Remittance Inflows - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/other-news\/fidelity-bank-reaffirms-support-for-cbns-new-fx-policy-push-targets-improved-diaspora-remittance-inflows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fidelity Bank Reaffirms Support For CBN's New FX Policy Push, Targets Improved Diaspora Remittance Inflows - 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