The Central Bank of Nigeria (CBN) has released an updated list of International Money Transfer Operators (IMTOs) licensed to operate in the country, naming 57 centers.
This was disclosed on the official website of CBN in a document titled ‘UPDATED LIST OF INTERNATIONAL MONEY TRANSFER OPERATORS IN NIGERIA AS AT APRIL 01, 2021′.
The apex bank listed the names and addresses of the 57 licensed IMTOs on Monday, in a bid to ward off unapproved or unauthorised IMTOs from playing in the space. Some of the operators had their addresses in Nigeria, others were based outside the country.
Recall that on the 23rd of March 2021, CBN released the list of 47 International Money Transfer Operators (IMTOs) approved to receive foreign exchange remittances from Diaspora Nigerians.
According to the list, 17 of the IMTOs were based in the United Kingdom; 14 in Lagos; eight in the United States of America; three in Abuja; two in Senegal and one each in Ibadan, Morocco and Belgium.
The apex bank also warned Nigerians (home and abroad) over the activities of unlicensed IMTOs, urging citizens to stop patronizing them.
It further threatened to apply severe sanctions on unauthorized international money transfer operators, if they remained adamant.
See Updated List of IMTOs Here.
Read Also: CBN Lists Over 40 Approved IMTOs
