Tag: International Money Transfer Operators

CBN fixes $1m as capital requirements for international money transfer operators

by Ikenna Ngere

February 2, 2024

The Central Bank of Nigeria, CBN, has fixed $1m as the minimum share capital requirement for International Money Transfer Operators in the country. This was revealed in its revised guidelines ...

CBN Abolishes Exchange Rate Cap for International Money Transfer Operators

by Harry Choms

February 1, 2024

The Central Bank of Nigeria (CBN) has introduced a new circular that eliminates the previous cap on exchange rates set for International Money Transfer Operators (IMTOs). Following a circular addressing ...