Home Business CBN Licenses 11 New International Money Transfer Operators

CBN Licenses 11 New International Money Transfer Operators

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By Akin Akinremi

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) on Tuesday licensed more International Money Transfer Operators (IMTOs) to operate in Nigeria.

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A statement by Acting Director Corporate Communications of the apex bank, Isaac Okoroafor, the licensing is in line with the existing guidelines on International Money Transfer Services in Nigeria (2014).

He said 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 and CP EXPRESS LIMITED.

They join Western Union, MoneyTransfer and RIA making altogether 14 firms.

Okoroafor also said the CBN wished to reiterate its commitment to providing an enabling environment for international money transfer services in Nigeria.

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