See list of all approved operators with which you can send money to Nigeria

The Central Bank of Nigeria (CBN) on Monday released a list of approved international money transfer operators with which to send money to Nigeria.

TheNewsGuru.com (TNG) reports the list released by the CBN followed the introduction of Naira 4 Dollar Scheme by the apex bank in bid to sustain the increase in inflows of diaspora remittances into the country

The list of approved international money transfer operators released by the CBN was last updated on February 28, 2021, sensed to be in line with the new Naira 4 Dollar Scheme.

Recall the CBN announced the new scheme in a circular to all deposit money banks, International Money Transfer Operators (IMTOs), and the public in general.

In the document dated March 5, 2021, and signed by its Director of Trade and Exchange Department, A.S. Jibrin, the apex bank explained that the scheme was an incentive for senders and recipients of international money transfers.

Accordingly, it noted that all recipients of diaspora remittances through IMTOs licensed by the nation’s financial regulator would henceforth be paid N5 for every 1$ received as remittance inflow.

The CBN added that the incentive of N5 for every $1 remitted by the sender and collected by the designated beneficiary would be paid through the commercial banks in Nigeria.

According to it, the incentive is to be paid to recipients whether they choose to collect the USD as cash across the counter in a bank or transfer the same into their domiciliary account.

The apex bank stated that it had discussed the new development with banks and IMTOs, saying the scheme would take effect from March 8 and end on May 8, 2021.

Meanwhile, below is the list of approved international money transfer operators with which to send money to Nigeria.

LIST OF APPROVED INTERNATIONAL MONEY TRANSFER OPERATORS AS AT FEBRUARY 28, 2021