Central Bank of Nigeria (CBN) has licensed 11 International Money Transfer Operators (IMTOs) to operate in Nigeria.
Announcing this on Tuesday, the Apex Bank said the decision to license more IMTOs is in furtherance of efforts to liberalise the Foreign Exchange Market, ensure liquidity and make foreign exchange more readily available to low end users.
In line with the existing Guidelines on International Money Transfer Services in Nigeria (2014), the following IMTOs are now licensed to operate in Nigeria:
- 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
According to a statement by the acting Director of Corporate Communications, Isaac Okorafor, CBN also reiterated its commitment to providing an enabling environment for international money transfer services in Nigeria.
