Understanding CBN’s IMTO directive and what It changes in the FX market

SummaryThe recent directive by the Central Bank of Nigeria (CBN) on International Money Transfer Operators (IMTOs) represents a forward-looking structural reform designed to enhance transparency, efficiency, and coordination within Nigeria’s foreign exchange (FX) market. IMTOs, including global operators such as Western Union and MoneyGram, play a vital role in facilitating diaspora remittances into Nigeria, serving […]