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LequteMan
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The Central Bank of Nigeria, CBN, has issued a statement concerning problems encountered with international money transfers to Nigeria.
According to reports. the CBN had approved 3 firms for international money transfers to Nigeria and blocked a host of others.
Read more: CBN Approves 3 Firms for Money Transfers to Nigeria, Blocks Others
In the statement, released yesterday, CBN said there is an ongoing licencing of interested International Money Transfer Operators (IMTOs).
According to CBN’s Acting Director, Corporate Communications, Isaac Okorafor, the apex bank "has not foreclosed the licensing of interested players in the IMTO space in Nigeria," as alleged.
"..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), which among other things, specifies the minimum technical and business requirements for various participants in the international money transfer services industry in Nigeria,” he said.
“The CBN remains committed to providing an enabling environment for international money transfer services in Nigeria. It is, however, important to emphasise that a prospective player shall first obtain the requisite licence to operate in Nigeria as an IMTO," he added.
According to reports. the CBN had approved 3 firms for international money transfers to Nigeria and blocked a host of others.
Read more: CBN Approves 3 Firms for Money Transfers to Nigeria, Blocks Others
In the statement, released yesterday, CBN said there is an ongoing licencing of interested International Money Transfer Operators (IMTOs).
According to CBN’s Acting Director, Corporate Communications, Isaac Okorafor, the apex bank "has not foreclosed the licensing of interested players in the IMTO space in Nigeria," as alleged.
"..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), which among other things, specifies the minimum technical and business requirements for various participants in the international money transfer services industry in Nigeria,” he said.
“The CBN remains committed to providing an enabling environment for international money transfer services in Nigeria. It is, however, important to emphasise that a prospective player shall first obtain the requisite licence to operate in Nigeria as an IMTO," he added.
