Business & Finance

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

Western Union

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.


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