7 Dec 2020
Domiciliary accounts and remittances have emerged as twin touchy issues in the management of Nigeria’s foreign exchange market (forex). And for many years, the obvious gray areas in the administration...
3 Dec 2020
The Central Bank of Nigeria (CBN) has issued fresh guidelines on the management and payment of diaspora remittances to recipients, mandating the international money transfer operator (IMTO) to ensure that transfer funds are deposited in “the agent bank’s correspondent account”.
22 Feb 2019
Wi-Pay Technologies has successfully tested its online platform and soon to launch international digital money transfer services. It will be recalled that Wi-Pay Global (the sister company of Wi-Pay Technologies) was granted an international Money Transfer Operator (IMTO) license by the Central Bank of Nigeria (CBN) in November 2016. Over that period the company has…
30 Jan 2019
The operators of Boudreaux De Change (BDCs), in the country have appealed to the Central Bank of Nigeria (CBN), to restore its self-regulatory status to ensure effective coordination of the over 4,500 members.
11 Dec 2017
Aminu Gwadabe is the President of Association of Bureau De Change Operators of Nigeria. He has remained outspoken and passionate about the role of his members in bringing exchange rate to convergence.