Forex: CBN approves NIPOST, 4 fintechs, others as IMTOs operators

Central Bank of Nigeria (CBN) last week released the list of 58 firms approved as International Money Transfer Operators (IMTOs) to render international money transfer services. Highlight of the list include Nigeria Postal Service, NIPOST, and four financial technology firms namely, Flutterwave, Pagatech, Interswitch and e-Tranzact. Other notable firms on the list include Moneygram, Western Union and Worldremit.

Meanwhile, naira recorded mixed performance in parallel market and in Investors and Exporters (I&E) window last week.

According to naijabdcs.com, live exchange rate platform of the Association of Bureaux de change Operators of Nigeria (ABCON), the parallel market exchange rate fell to N360 per dollar last week from N362 per dollar the previous week, indicating N2 appreciation for the naira. But naira depreciated by 25 kobo in I&E window, as the indicative exchange rate for the window rose slightly to N362.71 per dollar last week from N362.46 per dollar the previous week.

 

Vanguard 

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