US EditionScoop: CBN releases list of 108 IMTOs with commercial approval
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Scoop: CBN releases list of 108 IMTOs with commercial approval
The Central Bank of Nigeria (CBN) lists 108 International Money Transfer Operators (IMTOs) with commercial approval. This means that there are still some in the pipeline with either an Approval In-Principle (AIP) or at the application review stage. In its decade-long IMTO licensing history, the CBN has never had this many companies operating in the space. As of 2016, there were only about 15 IMTOs in Nigeria. Today, there are over 100 net new op…
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