CBN grants licences to 11 money transfer operators

The Central Bank of Nigeria on Tuesday said it had approved the licences of eleven international money transfer operators to do business in Nigeria.

The apex bank in a statement signed by the acting Director, Corporate Communications Department, Mr. Isaac Okoroafor, said the move was in line with the bank’s efforts to liberalise the foreign exchange market.

This, the statement added, would ensure liquidity and make foreign exchange more readily available to low-end users.

The newly licensed operators are Trans-Fast Remittance, WorldRemit Ltd, UAE exchange Centre, WARI Limited, Homesend, Small World Financial Services Group and Weblink International Limited.

Others are Cashpot Limited, DT&T Corporation Limited, FIEM Group and CP Express Limited.

The CBN in the statement said it was commitment in providing an enabling environment for international money transfer services in Nigeria.