IMTOs For Diaspora Remittances

CBN Has Unveiled Full List Of IMTOs For Diaspora Remittances.

 

NewsOnline Nigeria reports that the Central Bank of Nigeria, CBN, has published an updated list of International Money Transfer Operators (IMTOs) approved for Diaspora Remittances in the country.

 

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The apex bank made this known via its official website on Monday.

 

Among the IMTOs listed are: Aftab Currency Exchange Ltd, Nigerian Postal Service, Ria Financial, PayPal Inc, Western Union, Swift Payment Ltd and Worldremit Ltd.

 

Others on the list include; Money Gram, Interswitch Ltd, Paycom Nigeria Ltd, Pagatech Ltd and Flutterwave Technology Solutions Ltd, among others.

 

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Recall that the CBN earlier announced a new “CBN Naira for Dollar Scheme ”for senders and recipients of International money transfers.

 

The CBN in a statement released by its Director, Trade and Exchange Department, A.S Jibrin, said it will through commercial banks pay remittance recipients the Incentive of N5 for every $1 remitted by the sender and collected by the designated beneficiary.

 

It stated that all recipients of diaspora remittances through CBN licensed IMTOS shall henceforth be paid N5 for every $1 received as remittance inflow.