CBN Issues Licence To New International Money Transfer Operators

The Central Bank of Nigeria (CBN) has issued licence to more International Money Transfer Operators (IMTOs) to operate in Nigeria.

This is contained in a statement issued by Mr Isaac Okoroafor, the Acting Director, Corporate Communications of the apex bank, in Abuja on Tuesday.

Okoroafor said that the licensing was in furtherance of efforts to liberalise the Foreign Exchange Market, ensure liquidity and make foreign exchange more readily available to low-end users.

See the Press Release below;

 

In furtherance of efforts to liberalise the Foreign Exchange Market, ensure liquidity and make foreign exchange more readily available to low end users, the Central Bank of Nigeria (CBN) has licensed more International Money Transfer Operators (IMTOs) to operate in Nigeria.

In line with the existing Guidelines on International Money Transfer Services in Nigeria (2014), the following IMTOs are now licensed to operate in Nigeria:

S/No. Registered Operators
TRANS-FAST REMITTANCE LLC
WORLDREMIT LIMITED
UAE EXCHANGE CENTRE LLC
WARI LIMITED
HOMESEND S.C.R.L
SMALL WORLD FINANCIAL SERVICES GROUP LIMITED
WEBLINK INTERNATIONAL LIMITED
CASHPOT LIMITED
DT&T CORPORATION LIMITED
FIEM GROUP LLC DBA PING EXPRESS
CP EXPRESS LIMITED

 

The CBN also wishes to reiterate its commitment to providing an enabling environment for international money transfer services in Nigeria.

 

 

Isaac Okorafor

Ag. Director, Corporate Communications