The Central Bank of Nigeria has again warned against the patronage of illegal money transfer operators, stating that the development was undermining its efforts in sanitising the system. The bank, in a statement issued by its Acting Director, Corporate Communications Department, Mr. Isaac Okoroafor, said...

The Central Bank of Nigeria has directed the Deposit Money Banks to conduct Know Your Customers’ Business to ensure customers do not make illicit remittances through the banking industry. The CBN gave the directive to banks and other authorised dealers in a circular signed by...