Wednesday, August 31, 2016

CBN Issues Licence To New International Money Transfer Operators (See List) |PoliFocus

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


This is contained in a statement issued by Mr Isaac Okoroafor, the Acting Director, Corporate Communications of the apex bank, 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.

See the Press Release below;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) haslicensed 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:

S/No.Registered Operators





1.TRANS-FAST REMITTANCE LLC

2.WORLDREMIT LIMITED

3.UAE EXCHANGE CENTRE LLC

4.WARI LIMITED1.HOMESEND S.C.R.L

5.SMALL WORLD FINANCIAL SERVICES GROUP LIMITED

6.WEBLINK INTERNATIONAL LIMITED

7.CASHPOT LIMITED

8.DT&T CORPORATION LIMITED

9.FIEM GROUP LLC DBA PING EXPRESS

10.CP EXPRESS LIMITED

The CBN also wishes to reiterate its commitmentto providing an enabling environment for international money transfer services in Nigeria.

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