$23bn Diaspora Remittances Raise Income Line For Households       In recent time, there have been moves to increase the volume and value of dollars remitted into the economy by Nigerians living abroad. More dollar inflows have significantly improved income of many beneficiaries who rely on their families...

Only 47 Money Transfer Operators Are Licensed, Says CBN     The Central Bank of Nigeria has released the list of 47 International Money Transfer Operators that are licensed to operate in the country. It disclosed this on its website in a document titled ‘List of approved International...

CBN's Battle Over Non-conformist Diaspora Remittance Continues       Despite efforts by the Central Bank of Nigeria (CBN) to stimulate activities in the formal channels of diaspora remittances, the window has continued to battle with its historical challenges, including rising competition with informal windows, poor regulatory compliance...

CBN Issues New Directives On Foreign Currency Payment Of Diaspora Remittance         The Central Bank of Nigeria CBN) has issued fresh directives to International Money Transfer Operators (IMTOs) on foreign currency payment in cash to beneficiaries of diaspora remittances. The fresh directives follow the new rules unveiled...

In furtherance of efforts to liberalise the Foreign Exchange Market, ensure liquidity and make foreign exchange more readily available to low end users, the Central Bank of Nigeria (CBN) has licensed more International Money Transfer Operators (IMTOs) to operate in Nigeria. In line with the...