2014-10-03 | TED/FEM/FPC/GEN/01/019

Re-Guidelines for the Operation of International Money Transfer Services (IMTS) in Nigeria- review of the allowable limit

The Central Bank of Nigeria has increased the allowable limit for outbound international money transfers from $2,000 to $5,000 per transaction, applicable only to "person-to-person" transfers. Corporate entities are not allowed to use this product. This change follows a recent guideline on International Money Transfer Services dated September 26, 2014.

Nigeria

Central Bank of Nigeria

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