Nigeria’s Africhange, a leading cross-border remittance service provider, has announced its subsidiary Currenzo has secured the International Money Transfer Operator [IMTO] licence from the Central Bank of Nigeria (CBN). Founded in 2020, Africhange serves over 200,000 users globally and has facilitated more than two million successful transactions. The acquisition of a IMTO licence is a strategic move that significantly improves Africhange’s ability to facilitate inward remittances for immigrants and diaspora communities sending money to Nigeria, without relying on intermediaries. Securing the IMTO licence allows us to offer a faster, more affordable way for people to support their loved ones back home,” said David Ajala, CEO of Africhange. “For Africhange, it means we’re stepping into a new era where we can empower both individuals and businesses to make seamless, direct transactions in Nigeria.

Source: The North Africa Journal November 15, 2024 15:59 UTC