IMTOs: List Of International Money Transfer Operators in Nigeria

Last Updated on February 2, 2021 by Ope Quadri

Some payment platforms get the approval of the Central Bank of Nigeria to carry out cross-border payments and currency exchange.

In this post, we’ll give you an updated list of international money transfer operators (IMTOs) in Nigeria.

NOTE: Azimo, Transfer Wise Are Not Registered IMTOs in Nigeria

Do you have family and friends abroad who are worried about how to wire money back home?

You need not worry any longer as in this list you’ll see the CBN certified outbound money transfer in Nigeria.

You can recommend any of the licensed international money transfer to anyone abroad.

They are safe and secure because they’ve passed the verification of Nigeria’s apex bank.

Every year, the CBN reviews the license of all money transfer operators to ensure that they operate within the ambit of Nigeria’s financial transfer policy.

All the 61 firms listed on this post can be used as a medium to transfer money back to Nigeria.

They use “an electronic transfer of funds in a specific currency and amount, to a friend, relative, or company overseas.”

List of IMTOs in Nigeria

  1. OPay (newcomer Owned by Opera): OPay got a license for International Money Transfer on November 2019.
  2. Aftab Currency Exchange Limited
  3. AWS Malta Limited
  4. Brac Saajna Exchange Limited
  5. Caperemit UK Limited
  6. Cashpot Limited
  7. Centrexcard Limited
  8. Chime Inc.
  9. Colony Capital Limited
  10. Comet trading Nigeria Limited
  11. CP Express Limited
  12. Daytona Capital Management Limited
  13. DT&T Corporation Limited
  14. eTransact Limited
  15. Fast FX Limited
  16. Fiem Group LLC
  17. First Apple INC.
  18. First Transfer INC
  19. FJ Williams Inc DBA Tranzalert
  20. Flutterwave Technology Solutions Limited
  21. Foren Money Limited
  22. Fortified Fronts Limited in partnership with e-2-e pay limited
  23. Funtech Global Communications Limited
  24. Gabtrans UK Limited in partnership with Money Limited
  25. GDM Transfer Pty Limited
  26. Global currency travel and tours Limited
  27. Homesend S.C.R.L
  28. IDT Payment Services INC
  29. Immueeble Wari Limited
  30. Interfundex Inc
  31. Interswitch Limited
  32. MoneyGram
  33. MyMoneySend Limited
  34. Nigerian Postal Services
  35. Nouveau Mobile Limited
  36. Omnex Group Inc
  37. Pagatech Limited
  38. PayPal Inc
  39. Paysend Plc
  40. Refitok International Limited
  41. Remit Hub Cafe Limited
  42. Remitly Inc
  43. Ria Financial
  44. Sanaa Capital LLC (Money4 Diaspora Services LLC)
  45. Shift Financial Services Limited
  46. Small World Financial Services Group Limited
  47. Swift Payment limited
  48. TCF Limited
  49. Trans-Fast Remittance LLC
  50. Transfercorp Limited/VFD Group

Other IMTOs in Nigeria are:

  • Transferto Mobile Financial Services Limited
  • Xpress Money Services Limited
  • Venture garden Nigeria
  • Volopa Financial Services Limited
  • Vtnetwork Limited
  • Weblink International Limited
  • Western Union
  • Wi-Pay Global LLC
  • Worldremit Limited
  • Direkt Wire UK Limited
  • Naira Gram LLC operating in Nigeria as NGN Gram Limited.
  • UAE Exchange Centre LLC
  • FIEM Group LLC DBA Ping Express

The bank said the illegal operators use Naira accounts opened in local commercial banks to lure unsuspecting customers with ridiculous exchange rates.

“Nigerians in the Diaspora are advised not to patronize unlicensed International Money Transfer Operators, as they stand the risk of losing their hard-earned money,” CBN’s spokesperson, Isaac Okorafor, said in Abuja.

He warned deposit money banks (DMBs) against being used for such illegal transactions, “Central Bank will not hesitate to block such accounts when discovered and the operators will be handed over to the law enforcement agencies for prosecution.”

The above operators provide international money transfer services for companies and individuals across the World. You can download the Updated List Here.

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