Skip to main content

CBN Raises the Alarm over Activities of Unregistered Int’l Money Transfer Operators in Nigeria


Central Bank of Nigeria (CBN) on ‎Tuesday raised the alarm over the activities of those it termed  unregistered international money transfer operators, and warned Nigerians against having dealings with such organisations.
Acting Director, Corporate Communications at the CBN, Mr. Isaac Okorafor‎, said in a statement that the unregistered international money transfer operators pose serious danger to the  nation’s economy.
In the statement, titled: “Beware of Unregistered Money Transfer Operators”, Okorafor said: “The Central Bank of Nigeria (CBN) wishes to advise Nigerians at home and in the Diaspora to beware of the unwholesome activities of some unlicensed International Money Transfer Operators (IMTOs) in Nigeria.
“This warning has become necessary because of the activities of some unregistered IMTOs, whose modes of operation are detrimental to the Nigerian economy.
“All financial service providers in Nigeria, just as in other jurisdictions, are required to be duly licensed in order to protect both customers and the financial system as well as to ensure the credibility of financial transactions. “For the avoidance of doubt, all licensed International Money Transfer Operators, in line with the CBN Circular on the sale of foreign currency proceeds of July 22, 2016, are required to remit foreign currency to their respective agent banks in Nigeria for disbursement in Naira to the beneficiaries while the foreign currency proceeds are to be sold to Bureaux De Change operators, for onward retail to end users.
“The Central Bank of Nigeria will therefore not condone any attempt aimed at undermining the country’s foreign exchange regime.
“Accordingly, members of the public are advised to beware of the activities of such unregistered IMTOs for the greater economic good of Nigeria.”
Labels:

Comments

Post a Comment

Popular posts from this blog

ONE LITTLE GIRL: an interesting story of a shoe Addict

 I find Imelda Marcos story very interesting. Thought of sharing. Enjoy ONE LITTLE GIRL  Once upon a time there was a little girl. She was a beautiful little girl, everyone agreed. She had dark hair, pale skin and almond eyes. And she sang like an angel. Everyone agreed on that too. Until she was 10 our little girl lived in the big city. It was a sprawling, bustling, filthy place. She lived in a hovel. Well, it wasn’t so much a hovel as a rundown garage. And, when the wind blew at night, the doors and shutters creaked and banged and she was very afraid. And every year when the fierce monsoon rains wreaked their vengeance on the earth the floor of the garage flooded and the little girl’s bare feet were cold and wet. One night in a fearsome storm our little girls’ mummy died – “of pneumonia”, they said, but our little girl didn’t understand. And so she and her widowed father and her five brothers and sisters left the garage in the big city and went to live on a tropical ...
Post a Comment
Read more

HOW TO GET 100 SUBSCRIBERS ON YOUTUBE

Hi Lovelies, My video on how to get 100 SUBSCRIBERS on YouTube is out and ready. In the video, I showed every process I did (WITH SCREEN RECORDING TUTORIALS) to gain subscribers. I talked about the app I used. The exact pages  I went to attract subscribers etc. Watch here đŸ‘‡  Road to 100 SUBSCRIBERS I wish you MASSIVE GROWTH IN YOUR CHANNEL. Cheers đŸ¥‚
Post a Comment
Read more

Battle! Battle! Battle! Airforce Deploys More Fighter Jets to Battle Niger Delta Avengers

Isah Caroline  The Nigerian Air Force (NAF) has deployed additional aircraft to the Niger Delta in support of the military operations code named “OPERATION PULO SHIELD” against militancy, economic sabotage and all forms of criminalities in the South-South region of the Country. The deployment, according to Airforce spokesman, Group Capt. Ayodele Famuyiwa, was necessitated by the recent spate of attacks on the Nation’s oil and gas installations by the new militant group, Niger Delta Avengers (NDA). He said  the additional platforms, comprising fighter aircraft, helicopter gunship and surveillance aircraft, are intended to enhance the capability of the NAF to undertake offensive air operations and intelligence gathering in support of the surfaces forces. He also said “Since the recent deployment, the NAF has increased air operations around critical infrastructure in Delta, Bayelsa, Rivers and Akwa Ibom States. “These include but not limited to Escravos, Forcados in...
Post a Comment
Read more