Inflows through IMTOs surge by 63.7% in nine months on CBN reforms
The Central Bank of Nigeria’s (CBN) latest quarterly statistical bulletin has revealed a significant 63.7% increase in international money transfer ...
Tag: IMTOs
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 ...
Nigeria’s capital importation hits $5.92 billion in six months – Cardoso
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has disclosed that capital importation has risen to $5.92 ...
New CBN circular permits IMTOs to sell FX directly on Nigeria’s official window
The Central Bank of Nigeria (CBN) has permitted eligible International Money Transfer Operators (IMTOs) to sell foreign exchange (FX) on ...
CBN looking to double diaspora remittance inflows in 2024 – Cardoso
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso has stated that the bank aims to double ...
International transfers through Western Union, others to be paid out in naira
International transfers through international money transfers operators (IMTOs) will be paid out in naira in line with recent guidelines from ...
CBN stops outbound IMTO transactions, also limits inflow payouts to Naira
The Central Bank of Nigeria (CBN) has restricted the operations of international money transfer operators (IMTOs) to only inbound 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 ...
ANALYSIS: CBN introduction of Naira payout option for IMT Operators
CBN on Thursday issued a letter to all Deposit Money Banks (DMBs), International Money Transfer Operators (IMTOs), and the general ...
FirstBank, driving dollar remittances, economic growth via IMTOS
For centuries, there have been heated debates over the sources of economic growth in developing economies and why some countries ...
