The Central Bank of Nigeria (CBN) has reported a 63.7 per cent increase in international money transfer operator (IMTO) inflows during the first nine months of 2024. According to the latest quarterly statistical bulletin released by the apex bank, inflows rose from $2.33 billion recorded during the same period in 2023 to $3.82 billion in 2024. The significant growth has …

The Central Bank of Nigeria (CBN) facilitated the remittance of approximately $600 million through International Money Transfer Operators (IMTOs) in one year, the apex bank Governor, Olayemi Cardoso broke the news yesterday. He spoke at a ‘fireside’ event at the ongoing Nigeria Economic Summit (NES30), organized by the Nigeria Economic Summit Group (NESG). Policymakers, economists, and industry stakeholders were in …