By Nse Anthony-Uko
ABUJA (Sundiata Post) – The Central Bank of Nigeria (CBN) has licensed 11 new International Money Transfer Operators (IMTOs) to operate in Nigeria to further boost supply of foreign exchange to end users.
The newly licensed IMTOs include Trans-Fast Remittance LLC; WorldRemit Limited; UAE Exchange Centre LLC; Wari Limited; and Homesend S.C.R.L.
Others are Small World Financial Services Group Limited; Weblink International Limited; Cashpoint Limited; DT&T Corporation Limited; FIEM Group LLC DBA Ping Express and CP Express Limited.
The CBN, in a statement signed by Acting Director, Corporate Communications. Mr Isaac Okorafor on Tuesday, said “In furtherance of eorts to liberalise the Foreign Exchange Market, ensure liquidity and make foreign exchange more readily available to low end users, the CBN has licensed more IMTOs to operate in Nigeria”.
It added that the IMTOs are licensed to operate in the country line with the existing Guidelines on International Money Transfer Services in Nigeria (2014).
The apex bank further reiterated its commitment to providing an enabling
environment for international money transfer services in Nigeria.