Archive BREAKING: CBN Licenses 11 New International Money Transfer Operators

BREAKING: CBN Licenses 11 New International Money Transfer Operators

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The Central Bank of Nigeria, CBN has licensed 11 new International Money Transfer Operators (IMTOs) to operate in Nigeria.

Acting Spokesman of CBN, Isaac Okorafor said the move aims to make liquidity and foreign exchange more readily available to low end users.

The statement said “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:

See the list of the new IMTOs as tabulated by the apex bank:

S/No. Registered Operators
 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 also reiterated its commitment to providing an enabling environment for international money transfer services in Nigeria.

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