Azimo, Transfer Wise are Operating Illegally- CBN

Central Bank of Nigeria (CBN) has warned the general public to be careful of doing business transactions with Azimo and Transfer Wise.

The apex bank said that anyone who transacts with the firms is doing so at his/her peril

It was stated that the two organisations are claiming to be International Money Transfer Operators (IMTOs), but the CBN said it never gave these two firms licences to operate in the country as IMTOs.

In a statement issued on Wednesday and signed by Mr Osita Nwanisobi, acting director of Corporate Communications of the CBN, it was stressed that both Azimo and Transfer Wise are not registered to do the business they claim to have authority to do.

“The attention of the CBN has been drawn to the activities of Messrs Azimo and Messrs Transfer Wise, both of which are purportedly transacting business, albeit unauthorised, as IMTOs.

“The bank wishes to notify the general public that neither Messrs Azino nor Messrs Transfer Wise is licenced by the CBN to operate as an IMTO.

“The public is, therefore, advised to beware of the activities of Messrs Azino and Messrs Transfer Wise and desist from patronising the companies forthwith. Anyone who patronises the unregistered companies does no at his or her own risk,” the statement from the CBN said.

First Bank of Nigeria Limited, had on Tuesday warned its customers to be careful of Azimo.

“We disclaim the listing of FirstBank as one of the receiving or paying banks on Azimo.com by Azimo Limited, offering Global Money Transfer Services. FirstBank has no affiliation with Azimo and hereby publicly disassociates itself from it.

“Azimo is not a registered Money Transfer Service with the Central Bank of Nigeria (CBN) as such, not licensed in Nigeria. Anyone who transacts with Azimo is therefore doing so at his/her peril,” a statement from First Bank sent to its customers via an email read.