The Central Bank of Nigeria (CBN) yesterday reiterated its commitment to licencing of the International Money Transfer Operators (IMTO) in the country.
In a statement signed by Isaac Okorafor, acting director, corporate communications, the CBN stated clearly that it has not foreclosed the licensing of interested players in the IMTO space in Nigeria.
This is following an allegation by some persons that that the Apex bank has stopped the licensing of interested IMTOs in the country.
“It has come to the notice of the Central Bank of Nigeria (CBN) that, in spite of its transparency in the licensing of International Money Transfer Operators (IMTOs) in Nigeria, some persons have continued to allege that the Bank has stopped the licensing of interested IMTOs in the country”, the stamen reads.
Consequently, the CBN invited interested applicants to forward their requests for licensing to the Director, Trade and Exchange Department of the CBN, in line with the CBN Guidelines on International Money Transfer Services in Nigeria (2014), which among other things, specifies the minimum technical and business requirements for various participants in the international money transfer services industry in Nigeria.
“The Central Bank of Nigeria remains committed to providing an enabling environment for international money transfer services in Nigeria. It is, however, important to emphasize that a prospective player shall first obtain the requisite licence to operate in Nigeria as an IMTO”, the CBN said in the statement.
HOPE MOSES-ASHIKE
