The Central Bank of Nigeria (CBN) has said that its recent decision to licence more International Money Transfer Operators (IMTOs) has positively impacted remittance inflow into the country leading to a record of $585 million remittance in August 2024.
The CBN Governor, Yemi Cardoso, said this during a press briefing at the end of Tuesday’s 297th Monetary Policy Committee (MPC) meeting in Abuja.
IMTOs are organizations licensed to facilitate cross-border fund transfer services for individuals and entities residing abroad to recipients in Nigeria.
Read more at Nairametrics
The CBN Governor, Yemi Cardoso, said this during a press briefing at the end of Tuesday’s 297th Monetary Policy Committee (MPC) meeting in Abuja.
IMTOs are organizations licensed to facilitate cross-border fund transfer services for individuals and entities residing abroad to recipients in Nigeria.
Read more at Nairametrics