Central Bank of Nigeria (CBN) has announced that diaspora remittances through international money transfer operators (IMTOs) reached $4.22 billion between January and October 2024. This figure...
Nigeria’s foreign reserves surged to $40.08 billion on November 7, 2024, marking their highest level in almost two years, as reported by the Central Bank of...
Central Bank of Nigeria (CBN), issued new measures to facilitate naira liquidity and raise diaspora remittances. In its latest circular, the apex bank stated that eligible...
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...
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...
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...
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....
Central Bank of Nigeria (CBN) has withdrawn the operating licenses of 11 International Money Transfer Operators (IMTOs) in the country’s foreign exchange market. In the list...
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...
