CBN releases latest list of International Money Transfer Operators in Nigeria   

The Central Bank of Nigeria (CBN) has released its official list of International Money Transfer Operators (IMTOs) in Nigeria.

The current list has been extended from about 47 in 2021 to 62 in the latest press release by the apex bank.

IMTOs are companies or organizations authorized by the CBN to facilitate the transfer of funds from individuals or entities residing abroad to recipients in Nigeria.

These operators play a vital role in the remittance process by providing secure and efficient channels for individuals to send money to their families, friends, or business partners in Nigeria.

Some of the authorized IMTOs operating in Nigeria include major international money transfer companies such as Western Union, MoneyGram, PayPalRia Financial, TransferWise, WorldRemit, PagaTech, Flutterwave, VFD, Interswitch, and others.

These IMTOs have established networks and partnerships with local banks and financial institutions in Nigeria to ensure the smooth transfer of funds and efficient delivery to recipients.

As often stated by the central bank, the list is updated regularly as new companies are added. This is the latest as of July 12th, 2023.