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CBN Releases Names of International Money Transfer Operators, Announces Naira as Payout Option Remittances

CBN directs payment of dollar receipts in naira

July 13, 2023. Azonuchechi Chukwu. From the Central Bank of Nigeria (CBN) yesterday came a directive to International Money Transfer Operators (IMTOs): pay dollars received through Diaspora remittances to domestic beneficiaries in naira. A circular to banks, IMTOs and the public by CBN Director, Trade and Exchange Department, O.S Nnaji, listed 62 approved IMTOs to |

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