Tag
IMTOS
Licensed currency traders say International Money Transfer Operators (IMTOs) are no longer diverting forex proceeds, especially diaspora remittances, outside the official system.
The Central Bank of Nigeria’s (CBN) latest quarterly statistical bulletin has revealed a significant 63.7% increase in international money transfer operator (IMTO) inflows for the first nine months of 2024.
BDCs accuse IMTOs of ambushing external remittances, creating dollar scarcity in the parallel market
Bureau De Change (BDC) operators in Nigeria have attributed the recent depreciation of the Naira in the parallel market to scarcity of forex in the sector as major sources become drastically reduced.
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has disclosed that capital importation has risen to $5.92 billion between January and June 2024.
The Central Bank of Nigeria (CBN) has permitted eligible International Money Transfer Operators (IMTOs) to sell foreign exchange (FX) on Nigeria's official window.
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has stated that the bank aims to double diaspora remittance inflow within this year.
International transfers through international money transfers operators (IMTOs) will be paid out in naira in line with recent guidelines from the Central Bank of Nigeria (CBN).
The Central Bank of Nigeria (CBN) has restricted the operations of international money transfer operators (IMTOs) to only inbound transfers, stopping outbound transfers.
Forex crisis: BDCs to CBN, allow us carry out online dollar operations, receive diaspora remittances
ABCON) has asked the CBN to allow BDCs to carry out online dollar operations and Point of Sale (POS) agency as part of measures to boost liquidity in the forex market and ensure exchange rate liquidity.
CBN on Thursday issued a letter to all Deposit Money Banks (DMBs), International Money Transfer Operators (IMTOs), and the general public, announcing the inclusion of the Naira as a payout option for diaspora remittances.
For centuries, there have been heated debates over the sources of economic growth in developing economies and why...
Many analysts worry that taxpayers funds will be going to reward forex earners and many others see the policy as a subtle devaluation.