CBN licenses 11 new International Money Transfer Operators (IMTOs) | News Express Nigeria

CBN licenses 11 new International Money Transfer Operators (IMTOs)

News Express |30th Aug 2016 | 3,667

CBN licenses 11 new International Money Transfer Operators (IMTOs)

CBN licenses 11 new International Money Transfer Operators (IMTOs)

The Central Bank of Nigeria (CBN) has licensed eleven more International Money Transfer Operators (IMTOs) to operate in the country.

CBN Ag. Director, Corporate Communications, Isaac Okorafor, said this evening that this is “in furtherance of efforts to liberalise the Foreign Exchange Market, ensure liquidity and make foreign exchange more readily available to low end users.”

Okorafor said in a statement issued in Abuja that in line with the existing Guidelines on International Money Transfer Services in Nigeria (2014), the following IMTOs are now licensed to operate in the country:

1. Trans-Fast Remittance LLC

2. WorldRemit Limited

3. UAE Exchange Centre LLC

4. Wari Limited

5. Homesend S.C.R.L

6. Small World Financial Services Group Limited

7. Weblink International Limited

8. Cashpot Limited

9. DT&T Corporation Limited

10. Fiem Group LLC DBA Ping Express

11. CP Express Limited

The CBN in the statement reiterated its commitment to providing an enabling environment for international money transfer services in Nigeria.

•Photo shows CBN Governor Godwin Emefiele.

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