CBN Licenses 11 New International Money Transfer Operators
The 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
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