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Business & Finance

CBN Approves 3 Firms for Money Transfers to Nigeria, Blocks Others

Western Union
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The Central Bank of Nigeria, CBN, has blocked hundreds of firms for money transfers to Nigeria from other countries in the world.

Only three companies – Western Union, MoneyGram and Ria – will be able to continue operations, following an extreme and unexpected move by the Central Bank of Nigeria.

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All other international Money Transfer Operators, have been instructed by their local correspondents that transfers to Nigeria will no longer be processed and is, accordingly, suspending services immediately.

IBTimes


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