The Central Bank of Nigeria (CBN) has rolled out new guidelines mandating that transfers made through international money transfer operators (IMTOs) will now be paid out exclusively in naira, a move believed to be geared toward mopping up dollars to increase FX liquidity. This directive, which is in line with regulations outlined in a circular … Continue reading Nigeria’s Central Bank orders Money Transfer Operators (IMTOs) to pay out FX inflows only in naira