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CBN releases list of IMTOs for diaspora remittances

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The Central Financial institution of Nigeria, CBN, has printed an up to date listing of Worldwide Cash Switch Operators (IMTOs) authorized for Diaspora Remittances within the nation.

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The apex financial institution made this identified through its official web site on Monday.

Among the many IMTOs listed are: Aftab Forex Alternate Ltd, Nigerian Postal Service, Ria Monetary, PayPal Inc, Western Union, Swift Cost Ltd and Worldremit Ltd.

Others on the listing embrace; Cash Gram, Interswitch Ltd, Paycom Nigeria Ltd, Pagatech Ltd and Flutterwave Know-how Options Ltd, amongst others.

Recall that the CBN earlier introduced a brand new “CBN Naira for Greenback Scheme ”for senders and recipients of Worldwide cash transfers.

The CBN in an announcement launched by its Director, Commerce and Alternate Division, A.S Jibrin, mentioned it would by way of business banks pay remittance recipients the Incentive of N5 for each $1 remitted by the sender and picked up by the designated beneficiary.

It said that every one recipients of diaspora remittances by way of CBN licensed IMTOS shall henceforth be paid N5 for each $1 acquired as remittance influx.

CBN releases listing of IMTOs for diaspora remittances

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