30 results
- 25 Oct 2016
Wi-Pay Secures Intl Money Transfer Operations Approval from CBN
Wi-Pay has announced it has been granted an approval-in-principle by the Central Bank of Nigeria (CBN) for international money transfer operations (IMTO). In the letter received from the CBN and…
- 27 Apr 2021
CBN Licenses 10 More International Money Transfer Operators
The Central Bank of Nigeria (CBN) has granted operating licences to 10 additional international money transfer operators (IMTOs) as part of efforts to boost diaspora remittances. With the new…
- 21 Feb 2017
TransferWise Partner Facebook to Launches International Money Transfers
Money transfer company TransferWise has launched a new service that allows users to send money internationally through Facebook Inc's chat application, as competition in the digital payments…
- 20 Dec 2020
CBN Orders Banks to Close Naira Accounts of International Money Transfer Operators
Deposit Money Banks (DMBs) in the country have been ordered to close all Naira accounts operated by International Money Transfer Operators (IMTOs). This directive was given to the commercial banks by…
- 2 Feb 2024
CBN bans Banks and Fintechs from International Money Transfer Services
Central Bank of Nigeria (CBN) has prohibited banks and financial technology companies (fintechs) from offering international money transfer services. This development is outlined in the revised…
- 9 Jun 2014
CBN Pegs Share Capital for Money Transfer Operations @ N2Bn
The Central Bank of Nigeria (CBN) has released the exposure draft on the guidelines for the operation of international money transfer services in the country, stipulating a minimum paid up share…
- 22 Sept 2015
Airtel Repositions its Mobile Money for International Transfer
Airtel mobile money is being repositioned and will soon be able to facilitate international money transfer in countries where Airtel has a presence, senior company officials have said. Airtel Zambia…
- 20 Feb 2019
Wi-Pay Set to Launch International Money Transfer Services
Wi-Pay Technologies has successfully tested its online platform and soon to launch international digital money transfer services. It will be recalled that Wi-Pay Global (the sister company of Wi-Pay…
- 12 Jul 2013
Orange Launches First Mobile-to-Mobile Money Transfers
Orange has launched a quick and easy international money transfer service at a competitive price called "Orange Money International Transfer", between Mali, Senegal and Cote d'Ivoire. Every year, 200…
- 12 Jul 2017
Huawei, WorldRemit Accelerate Low Cost Mobile-To-Mobile Money Transfers
WorldRemit, leading digital money transfer service and Huawei have announced a partnership making WorldRemit’s international money transfer service available to all partners of Huawei’s mobile…
- 3 Aug 2016
WorldRemit Urges Restoration of Money Transfers to Nigeria
WorldRemit, a leading online remittance provider, has called for the urgent restoration of money transfers to Nigeria as draconian new rules leave virtually all money transfer operators (MTOs) unable…
- 8 Dec 2008
ValuCard Makes Money Transfer Easy with V-Money
ValuCard Nigeria (VCN) Plc has unveiled the V-Money Transfer, to enthrone cashless transactions and reinforce their leadership role towards a cashless economy. Kyari Bukar, managing director,…
- 9 Nov 2016
CBN Goes Tough on Illegal IMTOs, Banks over Money Transfers
Central Bank of Nigeria (CBN) has threatened to deal with any illegal International Money Transfer Operators (IMTOs) in the country when caught, warning Nigerians in the diaspora to desist from…
- 30 Aug 2016
CBN Grants IMTO Licenses to 11 Operators
Central Bank of Nigeria (CBN) has licensed more International Money Transfer Operators (IMTOs) to operate in Nigeria, in furtherance of efforts to liberalise the Foreign Exchange Market, ensure…
- 12 Feb 2024
Banks, IMTOs Halt Dollar Payments
International Money Transfer Operators (IMTOs) and banks in Nigeria have halted the payment of dollars to their customers. This follows the issuance of revised guidelines for International Money…
- 14 Mar 2015
Orange, Airtel To Enable Côte d’Ivoire & Burkina Faso Int’l Money Transfers
On Friday, customers of Orange Money in Côte d’Ivoire started using their mobile phones to send money to customers of Airtel Money in Burkina Faso, and vice versa. This partnership between Orange and…
- 26 Aug 2016
CBN Warns Banks on Illicit Money Transfer Flows
‎Central Bank of Nigeria (CBN) has directed commercial banks to conduct Know Your Customers’ Businesses (KYCB) to ensure customers do not transact illegal or illicit remittances through the…
- 10 Apr 2018
Lebara Partners WorldRemit to Launch Money Transfers to Nigeria
Lebara and WorldRemit, two leading brands serving international residents, have entered into a strategic partnership making WorldRemit the exclusive global money transfer partner of Lebara, including…
- 20 Jul 2020
Airtel Africa, WorldRemit Offer Instant Money Transfers across Africa
Airtel Africa, a leading provider of telecommunications and mobile money services in 14 countries across sub-Saharan Africa, is scaling up its operations with WorldRemit, the global digital money…
- 31 Aug 2016
WorldRemit Lauds Restoration of Money Transfers to Nigeria
WorldRemit, the leading digital remittance service, commends the restoration of money transfers to Nigeria, following the decision of the Central Bank of Nigeria (CBN) to approve WorldRemit and ten…
- 11 Aug 2025
Airtel Money Africa Partners pawaPay for Seamless International Remittances Across Africa
Airtel Money Africa, Airtel Africa’s mobile money arm, announced an extended partnership with Africa’s largest mobile money payment service provider (PSP) pawaPay to enable seamless cross-border…
- 22 Dec 2008
Zain Pilots Zap Money Transfer Service
Zain is set to launch a mobile money transfer service known as Zap, which is expected to be used across Africa and the Middle East. The pilot project will roll out in Madagascar, Kenya, Tanzania and…
- 3 Jul 2015
PayPal Unveiled Plans to Buy Money-Transfer Firm Xoom
PayPal unveiled its plans to buy money-transfer company Xoom , keeping up PayPal's effort to touch just about every aspect of the digital payments world. The deal, with an enterprise value of $890…
- 24 Mar 2026
CBN Directs IMTOs to Open Naira Settlement Accounts
Central Bank of Nigeria (CBN) has directed all International Money Transfer Operators (IMTOs) operating in the country to open and maintain naira settlement accounts with authorised dealer banks, as…
- 14 Aug 2014
CBN to Launch Outbound Money Transfer Service Today
Mr. Godwin Emefiele, Governor, Central Bank of Nigeria (CBN), as part of the key initiative of the Bank will today, August 15, 2014, launch the Outbound Money Transfer Services in partnership…
- 8 Jul 2015
Western Union Enhances Mobile Money Transfer Capabilities in Africa
Western Union Company, a leader in global payment services, in collaboration with the MTN Group, a multinational mobile telecommunications company servicing 229, 2 million customers in 22 countries,…
- 7 Nov 2024
Africhange Secures IMTO Licence to Streamline Remittance to Nigeria
Africhange, a cross-border remittance service provider, announced today that its Nigerian subsidiary, Currenzo, has secured the International Money Transfer Operator licence from the Central Bank of…
- 11 Feb 2015
Orange Launches Mobile Money Transfers for Ecobank Customers
Orange and pan-African banking group Ecobank have rolled out a service that will enable Orange Money subscribers who also have bank accounts with Ecobank to transfer money between their…
- 17 Mar 2014
Western Union, Paga Expand Mobile Money Transfer Network in Nigeria
The Western Union Company, a leader in global payment services, on Monday announced the launch of a new mobile money transfer (MMT) service to Nigeria, which increases the reach of Western Union…
- 13 Jul 2023
CBN Directs Banks to Pay Diaspora Remittances to Beneficiaries in Naira
Central Bank of Nigeria (CBN) has directed International Money Transfer Operators (IMTOs) to commence remittances pay-out in both Naira and foreign exchange to beneficiaries, according to Vanguard…