‘Licensing of money transfer operators hasn’t stopped’

Isaac Okorafor CBN Director of Corporate Communication

The Central Bank of Nigeria said it had yet to stop the licensing of international money transfer operators. The Acting Director, Corporate Communications, CBN, Mr. Isaac Okoroafor, made the clarification in a statement.

He said any operator interested in the mobile money transfer business should send a request for licensing to the Director, Trade and Exchange Department of the CBN.

The request, according to the statement, will be evaluated in line with the CBN guidelines on international money transfer services in Nigeria.

The statement read in part, “It has come to the notice of the Central Bank of Nigeria that, in spite of its transparency in the licensing of international money transfer operators in Nigeria, some persons have continued to allege that the bank has stopped the licensing of interested IMTOs in the country.

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