This must be a great news for Nigerians home and abroad who rely on the contemporary swift and flexible mediums of sending or receiving... Central Bank Of Nigeria Lifts Ban, Licences WorldRemit and 10 other (IMTOs)

This must be a great news for Nigerians home and abroad who rely on the contemporary swift and flexible mediums of sending or receiving money abroad without any form of discomfort or unnecessary formalities.

Earlier this month the Central Bank of Nigeria banned all  money remittance companies from sending money to Nigeria with the exception of these three companies Western Union, Ria, and Money Gram who according to the financial regulators have strictures on ground and are duly licenced.

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World Remit Back in Nigeria

World Remit Back in Nigeria

Well the good news today is yesterday being the 31st of August the CBN lifted the ban on WorldRemit together with 10 other new International Money Transfer Operators (IMTOs) and subiquently licensing their money remittance operations in Nigeria.

WorldRemit one of the companies has resumed operations today the 1st of August with a juicy deal for customers sending to Nigeria.

Reacting to this positive development the Founder & CEO of WorldRemit  Ismail Ahmed said in a press statement released on their website the following. .

“We commend the the Central Bank of Nigeria for reaffirming the country’s commitment to building an enabling environment and level-playing field for international money transfer services to Nigeria. Increased competition will help to bring the estimated 50% of remittances to Nigeria that currently go through unregulated, informal networks into formal networks channelled through licensed IMTOs.

“We’re grateful to the many Nigerians both at home and in the diaspora that supported our call for money transfers to be restored. A competitive remittance market provides Nigerians with greater convenience and better pricing.”

To celebrate the relaunch of its service to Nigeria, WorldRemit is offering promotional pricing of $0.01, €0.01, £0.01 or equivalent on all money transfers to Nigeria until 30 September 2016.”

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