Tag: mandates

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CBN Mandates Money Transfer Firms To Route Diaspora Remittances Through Banks

The Central Bank of Nigeria has moved to tighten regulatory oversight of diaspora remittances, mandating International Money Transfer Operators (IMTOs) to route all transactions through designated naira settlement accounts in Nigerian banks, effective May 1, 2026. The apex bank, in a circular signed by the director Trade and Exchange Department, Dr Musa Narkoji and addressed

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