The Central Bank of Nigeria has added 10 companies to the list of International Money Transfer Operators licensed in the country. This was disclosed on Monday in a report, titled ‘Updated list of International Money Transfer Operators in Nigeria as at April 01, 2021’. In March, the CBN had listed only 47 IMTOs as licensed operators. He noted that the initiatives introduced by the CBN to boost foreign exchange in the country were yielding results. Emefiele said the CBN introduced the rebate to reduce the cost burden of remitting funds to Nigeria by Nigerians in the diaspora.

Source: Punch April 26, 2021 23:26 UTC