Azimo, Transfer Wise not registered money transfer operators ― CBN

The Central Bank of Nigeria (CBN) has said that Messrs Azimo and Messrs Transfer Wise,  both of which are purportedly transacting business, albeit unauthorised, as International Money Transfer Operators (IMTOs) are not registered.

A statement signed by Osita Nwanisobi  Ag. Director, Corporate Communications at CBN, noted that the bank wishes to notify the general public that neither Messrs. Azimo nor Messrs Transfer Wise is licensed by the Central Bank of Nigeria to operate as an International Money Transfer Operator (IMTO).  

“The public is therefore advised to beware of the activities of Messrs Azimo and Messrs Transfer Wise and desist from patronising the companies forthwith.

“Anyone who patronizes the unregistered companies does so at his or her own risk,” the statement read in part.

Only recently, International money transfer operators (IMTOs) and commercial banks in the country agreed to start paying beneficiaries of diaspora remittances in foreign currencies through the designated bank of their choice, the Central Bank of Nigeria has announced.

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