Payout Option in Naira for Receipt of Proceeds of Diaspora Remittances

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