Alert: Central Bank of Nigeria Circular TED/FEM/PUB/FPC/001/009
Title: Rate quote and other market conduct by International Money Transfer Operators
Summary: The Central Bank of Nigeria has issued a circular to all International Money Transfer Operators (IMTOs) regarding rate quotes and market conduct. IMTOs must adhere to guidelines that include payment mode, pricing, and rate quotes within a specified range. Failure to comply may result in sanctions such as selling proceeds to the Central Bank, suspension of operations, and loss of operating license.
Posted on: Wednesday, September 13, 2023
Download: TED/FEM/PUB/FPC/001/009