CBN issues Licences to new International Money Transfer Operators

The Central Bank of Nigeria (CBN) has issued licences to
new International Money Transfer Operators (IMTOs) to operate in
Nigeria.

This was revealed in a statement issued by CBN’s Acting Director of Corporate Communications,

Isaac Okoroafor,  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.
The statement read:
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
Trans-Fast Remittance LLC, World Remit LimitedUAE Exchange Centre LLCWari Limited, Homesend S.C.R.LSmall World Financial Services Group LimitedWeblink International LimitedCashpot LimitedDT & T Corporation LimitedFIEM Group LLC, DBA Ping Express, and CP Express Limited.

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