CBN licenses 11 new International Money Transfer Operators in Nigeria



The Central Bank of Nigeria, CBN, in a bid to make foreign exchange more available to low end users, has licensed 11 new International Money Transfer Operators, IMTOs, to operate in Nigeria.

Disclosing this in a statement on Tuesday, the acting Spokesman of the apex bank, Isaac Okorafor, said CBN was committed to providing an enabling environment for international money transfer services in the country.

Okorafor said, “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.”

The list according to the apex Bank include: TRANS-FAST REMITTANCE LLC, WORLDREMIT LIMITED, UAE EXCHANGE CENTRE LLC4WARI LIMITED, HOMESEND S.C.R.L, SMALL WORLD FINANCIAL SERVICES GROUP LIMITED.

Others are: WEBLINK INTERNATIONAL LIMITED, CASHPOT LIMITED9DT&T CORPORATION LIMITED, FIEM GROUP LLC DBA PING EXPRESS and CP EXPRESS LIMITED.

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