JUST IN: International Money Transfer Operators Halt Dollar Transfers To Nigeria

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International Money Transfer Operators (IMTOs) have commenced the implementation of a directive by the Central Bank of Nigeria (CBN) to halt dollar transfers to Nigerians.

The development follows a recent directive by the apex bank, restricting the operations of IMTOs to only inbound transfers.

Some Nigerians attempting to send dollars from abroad  to dorm accounts can no longer do so.

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One of them wrote on Nairaland,  “Just got this email from WorldRemit. Seems CBN has quietly re-introduced their policy where people abroad can no longer send foreign currency directly to folks in Nigeria. Folks in Nigeria now can only receive the naira equivalent of the money sent.

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“I’ve checked Western Union and seems to be the same as well. Moneygram still allows dollars to be sent, but can only be picked up. Can’t send to a dorm account any more.”

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