The Central Bank of Nigeria (CBN) has warned that patronising unregistered international money transfer operators {IMTOs) in Nigeria is detrimental to the growth of the nation’s economy.
The apex bank also warned that some of the unregistered posed threat to the funds of those who utilise their services.
“Members of the public are advised to beware of the activities of such unregistered IMTOs for the greater economic good of Nigeria, said Isaac Okafor, acting director of communications in a statement.
“All financial service providers in Nigeria, just as in other jurisdictions, are required to be duly licensed in order to protect both customers and the financial system as well as to ensure the credibility of financial transactions.”
Source: Guardian
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