Polaris Bank has followed the CBN’s directive ordered it
branches to commence payment of US dollars to all beneficiaries of money
transfer across all its branches in Nigeria.
The statement was cited in a notice from the bank sent to
its customers, saying beneficiaries of money transfer can now receive their
remittance in US dollars in cash or directly into a domiciliary account in the
bank.
Furthermore, the bank said, the service is also open to both
account and non-account holders alike.
Polaris Bank’s Group Head, Product and Market Development,
Mrs. Adebimpe Ihekuna further disclosed that all beneficiaries are able to
receive their funds conveniently in dollars within minutes with a valid
identification, including season.
She urged Nigerians in the Diaspora and their beneficiaries
to take advantage of the seamless remittance dollar cash payout option service
in the Bank to receive their transfers this festive season.
Ihekuna, explained that Polaris Bank has existing
relationship with all leading and licensed global money transfer operators,
which makes it easy for Nigerians to receive money through the Polaris Bank.
She further added that the Bank’s large network of over 300
branches and dedicated money transfer locations across major cities makes the
option of receiving transfer through Polaris Bank very convenient for
beneficiaries.
According to the report, over 15 million Nigerians’ in the
Diaspora and an estimated $25 billion in annual remittances, Nigeria is the
fifth largest receiver of diaspora remittances in the World.
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