BY MARK ITSIBOR, Abuja
The Central Bank of Nigeria (CBN) has published an updated list of International Money Transfer Operators (IMTOs) approved for diaspora remittances in the country.
The new list has a total number of 57 IMTOs. 10 new IMTOs were added to the existing list.
The apex bank had released an upgraded list of 47 approved IMTOs in March this year. The list was obtained from the CBN website yesterday.
Also, the CBN had warned Nigerians at home and in the diaspora to beware of the unwholesome activities of some unlicensed IMTOS whose modes of operation are detrimental to the Nigerian economy.
The practice is that all financial service providers 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.