Tackling the black market problem

IMTC

Jay Vix, Director of Strategic Partnerships at Transfast, in a statement, noted that the unresolved issues with black market trading was negatively affecting the economies of developing countries all over the world, especially countries like Nigeria.

According to the statement, the IMTC, which is the largest international money transfer conference in the world, would help profer solutions to the problem and negative impact of the forex black market in Nigeria and other developing countries around the world.

Many leading remittance companies including Western Union, MoneyGram and Transfast, will be present at the event which will take place at the Nobu Eden Roc Hotel in Miami Beach, Florida, the statement said.

Attendees are expected to brainstorm on achieving lasting solutions to ensure that the black markets do not continue to strangle the advent of various remittance markets across the world.

“We are very happy, at IMTC, to have speakers such as Joe Tumbarello, COO/CFO of Transfast, especially because he is a very experienced executive in the payments arena and the money transfer industry needs the insights opinions of individuals like him that are transforming the industry amidst the challenges that we face,” said Hugo Cuevas-Mohr, Director of IMTC.

Back in August, the Central of Nigeria (CBN) temporarily suspended numerous  remittance companies leaving consumers only three principal US money transfer operators.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

EFCC arrests ex-MD of NDDC, Ekere over alleged N47bn fraud

EFCC arrests ex-MD of NDDC, Ekere over alleged N47bn fraud

New NYSC D-G assumes office, promises to sustain founding fathers’ vision

New NYSC D-G assumes office, promises to sustain founding fathers’ vision

APC Governorship aspirant in Plateau dumps party

APC Governorship aspirant in Plateau dumps party

Thugs disrupt factional SDP meeting in Kwara

Thugs disrupt factional SDP meeting in Kwara

Appeal Court president inaugurates electoral judicial manual committee

Appeal Court president inaugurates electoral judicial manual committee

2023: Adopt Jonathan as APC consensus candidate – Group tells APC

2023: Adopt Jonathan as APC consensus candidate – Group tells APC

Buhari to decide fate of Ngige, Sylva, others who shelved political ambition

Buhari to decide fate of Ngige, Sylva, others who shelved political ambition

FG suspends Accountant-General, Idris over alleged N80bn fraud

FG suspends Accountant-General, Idris over alleged N80bn fraud

Ganduje refuses to endorse Amaechi’s presidential bid, says Kano is a swing state

Ganduje refuses to endorse Amaechi’s presidential bid, says Kano is a swing state