Regulatory Alerts2026-03-30 | TED/FEM/FPC/PUB/001/002Measures to Further Deepen Diaspora Remittances and Compliance
All International Money Transfer Operators must exclusively utilize designated Naira settlement accounts held with Authorized Dealer Banks for the processing of all remittance transactions and foreign exchange conversions. IMTOs are mandated to align their transaction pricing with real-time Bloomberg BMATCH market data to enhance price discovery and reduce information asymmetry. Full regulatory compliance with these new settlement and pricing protocols, along with stringent AML/CFT/CPF standards, is required by the effective date of May 1, 2026.
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