By Nse Anthony-Uko
ABUJA (Sundiata Post) – The Central Bank of Nigeria (CBN) has stressed that it has not foreclosed on the licensing of international money transfer operators in the country.
Acting Director, Corporate Communications, Mr Isaac Okorafor, in a statement issued on Thursday said interested applicants should forward their requests for licensing to the Director, Trade and Exchange Department of the CBN, in line with the CBN Guidelines on International Money Transfer Services in Nigeria (2014).
Among other things, the guidelines specify the minimum technical and business requirements for various participants in the international money transfer services industry in Nigeria.
Okorafor also said the guidelines can be downloaded from the website of the Central Bank of Nigeria (CBN) www.cbn.gov.ng.
“It has come to the notice of the Central Bank of Nigeria (CBN) that, in spite of its transparency in the licensing of International Money Transfer Operators (IMTOs) in Nigeria, some persons have continued to allege that the Bank has stopped the licensing of interested IMTOs in the country.
“The CBN wishes to state, unequivocally, that it has not foreclosed the licensing of interested players in the IMTO space in Nigeria.
Therefore, interested applicants are required to forward their requests for licensing to the Director, Trade and Exchange Department of the CBN, in line with the CBN Guidelines on International Money Transfer Services in Nigeria (2014),” the statement said.
Okorafor assured that the CBN remained committed to providing an enabling environment for international money transfer services in Nigeria, adding that it is however important to emphasise that a prospective player shall first obtain the requisite licence to operate in Nigeria as an IMTO.