CBN Apex bank issues licence to new International Money Transfer operators

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.

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Central Bank of Nigeria play

Central Bank of Nigeria

(thesheet)
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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.

“This is in line with the existing guidelines on international money transfer services of 2014 in Nigeria,’’ he said.

He reiterated the ?cBN's commitment to provide an enabling environment for international money transfer services in the country.

The IMTOs, he said were; Trans-fast Remittance LLC, World Remit Limited, UAE Exchange Centre LLC, Wari Limited, Homesend S.C.R.L and Small World Financial Services Group Limited.

The others were Weblink International Limited, Cashpot Limited, DT and T Corporation Limited, Fiem Group LLC, DPA Ping Express and CP Express Limited.

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