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Money and Fixed Income

DISCLAIMER: CBN exposes 2 unathorised International Money Transfer Operators

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CBN Communique

DISCLAIMER: CBN exposes 2 unathorised International Money Transfer Operators


 

The Central Bank of Nigeria (CBN) has warned the general public to beware of two firms – Azimo and Transfer Wise – that operate as International Money Transfer Operators (IMTOs), saying the two firms are not licensed to carry out the business.

In a statement titled ‘Azimo, Transfer Wise Not Registered IMTOs’ published on its official website on Wednesday and signed by Osita Nwanisobi Acting Director, Corporate Communications, the apex bank said the duo have been carrying out illegal transactions.

It said: “Our attention has been drawn to the activities of Messrs. Azimo and Messrs. Transfer Wise, both of which are purportedly transacting business, albeit un-authorised, as International Money Transfer Operators (IMTOs).

“The CBN wishes to notify the general public that neither Messrs. Azimo nor Messrs. Transfer Wise is licensed by the CBN to operate as an IMTO.

“The public is therefore advised to beware of the activities of Messrs. Azimo and Messrs. Transfer Wise and desist from patronising the companies forthwith,” adding that “anyone who patronies the unregistered companies, does so at his or her own risk.”

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