Regulatory Alerts2023-07-12 | TED/PFO/CON/INT/007/032Payout Option in Naira for Receipt of Proceeds of Diaspora Remittances
The Central Bank of Nigeria announces that recipients of diaspora remittances through approved International Money Transfer Operators will now have the option to receive their funds in Naira, in addition to USD and eNaira. This regulation is effective immediately and requires International Money Transfer Operators to use the Investor's and Exporter's Window rate as the anchor rate on the day of the transaction.
CENTRAL BANK OF NIGERIA TRADE AND EXCHANGE DEPARTMENT 09 46237831 09 46237809 E-mail address: ted@cbn.gov.ng TED/FEM/PUB/FPC/001/004 July 10, 2023 TO: ALL DEPOSIT MONEY BANKS, INTERNATIONAL MONEY TRANSFER OPERATORS AND THE GENERAL PUBLIC PAYOUT OPTION IN NAIRA FOR RECEIPT OF PROCEEDS OF DIASPORA REMITTANCES Further to the circular referenced TED/FEM/FPC/GEN/01/011 dated November 30, 2020 in respect of the above subject, the Central Bank of Nigeria hereby announces Naira as a payout option for receipts of proceeds of International Money Transfers.
Accordingly, all recipients of diaspora remittances through the CBN approved IMTOs on the attached list/shall henceforth have the option of receiving Naira payment in addition to USD and eNaira as payout options.
For the avoidance of doubt, International Money Transfer Operators are required to pay out the proceeds using the Investors' & Exporters' Window rate as the anchor rate on the day of the transaction.
This regulation takes effect immediately. Please note and ensure compliance.
DR. O.S NNAJI DIRECTOR TRADE & EXCHANGE DEPARTMENT
| UPDATED LIST OF INTERNATIONAL MONEY TRANSFER OPERATORS IN | ||
|---|---|---|
| NIGERIA AS 10 JULY 2023 | ||
| SN | OPERATOR | ADDRESS |
| Pall Mall Court 61-67 King Street, | ||
| AFTAB CURRENCY EXCHANGE LIMITED | Manchester, M2 4PD, United | |
| 1 | Kingdom | |
| Strawinskylaaan 3101, Amsterdam 1077ZX, | ||
| AZIMO LIMITED | ||
| 2 | the Netherlands | |
| BEL YFTED LIMITED | 44 Whalebone Lane South, Dagenham, | |
| 3 | Essex, RMB 1BB, United Kingdom | |
| CASHPOT LIMITED | 157, Deptford High Street SE8 3NU, London | |
| 4 | United Kingdom | |
| 47 Stanley Road Stevenage Hertfordshire | ||
| CAPEREMIT UK LIMITED | United Kingdom SG2 OEE | |
| 5 | Unit 46, Dartford Business Park (Basepoint) | |
| CENTREXCARD LIMITED T/A (TransferBoss) | Victoria Road, Dartford DA1 5FS, Kent, UK | |
| e | 239 East 5th Street Suite 4B New York. | |
| CHIME INC (SENDWAVE) | ||
| 7 | NY 10003 United States | |
| Plot 5 Chief Yesefu Abiodun Way Oniru | ||
| COLONY CAPITAL LIMITED | ||
| 8 | Victoria Island Lagos | |
| 14, Idowu Marlins Street, Victoria Island | ||
| COMET TRADING NIGERIA LIMITED | ||
| 9 | Lagos | |
| 10 | CP EXPRESS LIMITED | 346 Barking Road London, E13 8HL |
| 43-44 New Bond Street. London, W1S 2SA. | ||
| CSL PAY LIMITED | ||
| 1 1 | nk | |
| 8 Norfolk House, 9 Brookmill Road, London, | ||
| DIREKT WIRE UK LIMITED | ||
| 12 | England, SE8 4HL | |
| 3 Harbour Exchange Square London E14 | ||
| DT&T CORPORATION | ||
| 13 | age | |
| 4th & 5th Floors, Fortune Tower 27/29 | ||
| eTRANZACT INTERNATIONAL PLC | Adeyemo Alakija Street Victoria Island Lagos | |
| 14 | 6492 Landover Road Suite A1 Landover | |
| LEADREMIT LIMITED | ||
| 15 | MD20785 Cheverly, USA | |
| FLUTTERWAVE TECHNOLOGY SOLUTIONS LIMITED | 8 Providence Street, Lekki Phase 1 Lagos | |
| 16 | e-2-e PAY LIMITED | Bookshop House #20 Gana Streel Mailama |
| 17 | ||
| 18 | FUNDS & ELECTRONIC TRANSFER SOLUTION LIMITED | No. 15, Cameron Road Ikoyi, Lagos |
| Clarendon House 125 Shenley Road | ||
| FUNTECH GLOBAL COMMUNICATIONS LIMITED | Borehamwood Heartshire WD6 1AG United | |
| 19 | Kingdom | |
| GABTRANS UK LIMITED/MONEY TO LIMITED | # 49, Incerness Mews London, England E16 | |
| 20 | 2SP | |
| 1280 Ashlon Old Road Manchester, M11 1JJ | ||
| GLOBAL CURRENCY TRAVEL & TOURS LIMITED | ||
| 21 | United Kingdom | |
| 22 | IDT PAYMENT SERVICES INC. | 520 Broad Street USA |
| 23 | INNOVATE 1 PAY LIMITED | No. 4 Yola Street Area 7- Garki Abuja |
| The Plaza Commercial Centre. Level 6 | ||
| INTERCHANGE GROUP LIMITED/ME INTERCHANGE NIGERIA LIMITED | Suite 1 Bisazza Street. Silema SLM 1640. | |
| 24 | Malta | |
| Plot 1648C Oko-Awo Close Victoria Island | ||
| INTERSWITCH LIMITED | ||
| 25 | Lagos | |
| 3rd Floor Walbrook Building 195 Marsh Wall. | ||
| LYCAMONEY FINANCIAL SERVICES LIMITED | ||
| 26 | London E14 9SG. UK | |
| MAKEBA INC. | 85, Broad Street, 18" Fl New York, NY 10004 | |
| 27 | MONEYGRAM | Africa Re-Insurance Building 1679, Karimu |
| 28 | Kotun Victoria Island, Lagos |
| c/o PERCHSTONE & GRAEYS. Plot 1267. | ||
|---|---|---|
| MONEYTO LIMITED | Ahmadu Bello Way Opp GTBank, Area 11. | |
| 29 | Garki, Abuja | |
| Zonamerica Rula 8KM, 17500, Business & | ||
| MORE MONEY TRANSFERS LIMITED | Technology Park Edifico Bela 3 Uruguay | |
| 30 | Unit 209, Lovel 1, Gate Avenue, South Zone. | |
| MULTIGATE GROUP HOLDING LIMITED | Dubai International Financial Centre, Dubai, | |
| 31 | UAE | |
| 24b Femi Okunnu, Phase 2, Lekki, Lagos | ||
| NAIRA GRAM LLC/ NGN GRAM LIMITED | ||
| 32 | Stale | |
| 33 | NIGERIAN POSTAL SERVICE (NIPOST) | P.M.B 12537, Garki Abuja |
| 51/53 Kudirat Abiola Way. Oregun, ikeja. | ||
| NOUVEAU MOBILE LIMITED | ||
| 34 | Lagos State | |
| PAGATECH Limited | 176 Herbert Macaulay Way Yaba, Lagos | |
| 35 | Plot 8, Dr. Nurudeen Olowopopo Avenue | |
| PAYCOM NIGERIA LIMITED | ||
| 36 | Alausa, Lagos | |
| PAYPAL INC./XOOM | #2211 North First Street San Jose, CA95131 | |
| 37 | United States of America | |
| PAYSEND PLC | # 8 Golden Square, Piccadilly, London | |
| 38 | United Kingdom | |
| 6th Floor, First Central 200, 2, Lakeside | ||
| QUICKREMIT LIMITED | Drive, Park Royal, London, NW10 7FQ. | |
| 39 | United Kingdom | |
| REMILTY INC. | 111 Third Avenue Suite 2100 Seatile, WA | |
| 40 | 98101 United States | |
| REMIT HUB CAFÉ LIMITED | 175 Chesterton Road Cambridge, CB4 1AF | |
| 41 | United Kingdom | |
| REMITIX LIMITED (MUKURU) | 12 Old Mills Industrial Estate Paulton Bristol, | |
| 42 | BS39 7SU. UK | |
| RIA FINANCIALS | 1 Allées Seydou Nourou TALL POINTE | |
| 43 | Dakar - Senegal | |
| 454 S. Anderson Road, Suite 311 Rock Hill, | ||
| 44 | SAANA HOLDINGS INC | SC 29730 South Carolina USA |
| SHIFT FINANCIAL SERVICES LIMITED | 200 First Central, 2 Lakeside Dr, London | |
| 45 | NW10 7FQ. United Kingdom | |
| SIMBAPAY LIMITED | One Glass Wharf. Bristol, BS2 0ZX, London | |
| 46 | SIMPLIFY INTERNATIONAL SYNERGY LIMITED | |
| 47 | No. 18, A-Close, 14 Road. Gwarimpa. Abuja | |
| Antonio inesta Units 3&4 Sycamore Court | ||
| SMALL WORLD FINANCIAL SERVICES GROUP LIMITED | Royal Oak Yard 168-170 Bermondsey Street | |
| 48 | SE1 3TQ, London | |
| 2A Osborne Road Pees Galleria, Suite 4 | ||
| TCF Services Limited | ||
| 4 a | Ikoyi, Lagos | |
| 2nd Floor, Unit 4 Milbanka Court, Bracknell | ||
| TERRA PAYMENT SERVICES (UK) LIMITED | Bershire. England, RG12 1RP | |
| 50 | 150 Fifth Avenue New York, New York | |
| MASTERCARD TRANSACTION SERVICES (MTS) | ||
| 51 | 10011 | |
| Foresight House, 163/165 Broad | ||
| TRANSFERCORP LIMITED/VFD GROUP | ||
| 52 | Street, Lagos Island, Lagos | |
| London Iron House London SE1 1UN United | ||
| TRANSFERTO MOBILE FINANCIAL SERVICES LIMITED (THUNES) | ||
| 53 | Kingdom | |
| VENTURE GARDEN GROUP | Plot E, Ziatech Road Oregun, Ikeja Lagos | |
| 54 | Maclay Murray & Spens LLP 1 George | |
| VOLOPA FINANCIAL SERVICES (SCOTLAND) LIMITED | ||
| 55 | Square, Glasgow, G2 1AL | |
| 350/360 Ikorodu Road Maryland, Ikeja | ||
| 56 | VOYSE TECHNOLOGIES (NIGERIA) LIMITED | Lagos |
| No 5 Beckley Street, Off Adeyi Avenue Old | ||
| VTNETWORK LIMITED | ||
| 57 | Bodija, Ibadan Oyo Slate |
| The Enterprise Centre (Unit 1) Hastings | ||
|---|---|---|
| WEBLINK INTERNATIONAL | Road, Bromley Kent BR2 8NA, London | |
| 58 | 7* Floor, Shore 13 1100 Boulevard Al Qoos- | |
| WESTERN UNION | Quartier Sidi Maarouf 20270 Casablanca- | |
| 59 | Morocco | |
| 2nd Floor, 62 Buckingham Gate London | ||
| WORLDREMIT LIMITED | ||
| 60 | SW1E 6AJ | |
| Office #426, 1 Olympic Way Wembley HA9 | ||
| XPRESS MONEY SERVICES LIMITED | ||
| 61 | ONP London, UK | |
| 62 | XPRESS PAYMENT SOLUTIONS LIMITED | 23. Oba Akinjobi Way Ikeja GRA Lagos |