Remittances: CBN releases list of 48 approved money transfer operators

March 22, 2021
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The Central Bank of Nigeria (CBN) has published a list of 48 international money transfer operators (IMTOs) approved for diaspora remittances.

The bank had earlier introduced a “Naira 4 Dollar Scheme”, an incentive that pays naira to senders and recipients of international money transfers.

The incentive will see that the recipients of diaspora remittances are paid N5 for every $1 received from outside the country.

The incentive will be enjoyed if remittances come in through IMTOs approved by CBN. The bank, on Monday, published the list of the IMTOs.

They are as follows: Aftab Currency Exchange Limited, Azimo Limited, Belyfted Limited, Caperemit Uk Limited, Cashpot Limited, Centrexcard Limited, Chime Inc.

Others are: Colony Capital Limited, Cp Express Limited, Dt&T Corporation Limited, Etranzact Limited, Fiem Group Llc Dba Ping Express, First Apple Inc., Flutterwave Technology Solutions Limited among others.

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