HomeTagsIMTOs

Tag: IMTOs

Forex Inflows from IMTOs Rise by 44.5%

The value of foreign exchange inflows to the economy through the International Money Transfer Operators (IMTOs) rose sharply in 12 months to $4.76 billion, the Central Bank of Nigeria (CBN) quarterly statistical bulletin has shown.

Nigeria’s IMTO Inflows Jump by 63.7% in Nine Months – CBN

Nigeria's IMTO Inflows Jump by 63.7% in Nine Months - CBN   According to the Central Bank of Nigeria (CBN) the country witnessed a significant surge in international money transfers, with inflows from International Money Transfer Operators (IMTOs) rising by 63.7% during the first nine months...

After IMTOs Engagement, Remittances Rose to Almost $600m in September – Cardoso

After IMTOs Engagement, Remittances Rose to Almost $600m in September – Cardoso The Central Bank of Nigeria (CBN) says remittance inflows rose to almost $600 million as of the end of September. Olayemi Cardoso, CBN governor, announced at a special summit dinner organised by the Nigerian...

In Three Months, Forex Inflow Via IMTOs Hits $1.07bn

In Three Months, Forex Inflow Via IMTOs Hits $1.07bn   Foreign exchange inflows from International Money Transfer Operators increased by 38.86 per cent to $1.07bn in the first quarter of 2024, from $770.23m recorded in the same period in the previous year. This was revealed in the...

CBN Activates Plan to Double Foreign Remittance

CBN Activates Plan to Double Foreign Remittance The Central Bank of Nigeria (CBN) has activated plans to double foreign-currency remittance flows through formal channels by granting 14 new International Money Transfer Operators (IMTOs) Approval-in-Principle (AIP). Mrs. Hakama Sidi Ali, the Director of Corporate Communications disclosed this...

Nigeria Records $282m Diaspora remittances in Q1 2024 – CBN

Nigeria Records $282m Diaspora remittances in Q1 2024 – CBN Nigeria recorded $282.61 million as total direct foreign exchange (FX) remittances in the first quarter (Q1) of 2024. This is according to data obtained from the website of the Central Bank of Nigeria (CBN) on May...