CBN licenses 11 new international money operators

The Central Bank of Nigeria has licensed 11 new international money operators in the country.

In a statement signed by its Ag. Director, Corporate Communications, Isaac Okorafor on Tuesday, the apex bank said the decision was to ensure liquidity and make foreign exchange more readily available to low end users.

The newly licensed operators are; TRANS-FAST REMITTANCE LLC, WORLDREMIT LIMITED, UAE EXCHANGE CENTRE LLC, WARI LIMITED, HOMESEND S.C.R.L, SMALL WORLD FINANCIAL SERVICES GROUP LIMITED, WEBLINK INTERNATIONAL LIMITED, CASHPOT LIMITED, DT&T CORPORATION LIMITED, FIEM GROUP LLC DBA PING EXPRESS and CP EXPRESS LIMITED.

The bank 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.

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

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