International Money Transfer Operators can only pay in Naira, cannot transfer money out from Nigeria
Consequent upon the recent directive by the Central Bank of Nigeria (CBN), restricting the operations of International Money Transfer Operators (IMTOs) to only inbound transfers, IMTOs have decided to halt dollar transfers to Nigerians, meaning, they will now only pay recipients in naira. In the published document addressed to IMTOs on January 31, CBN ordered […]
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