The Central Bank of Nigeria (CBN) has cautioned the banking public against patronising two unauthorised International Money Transfer Operators (IMTOs).
According to the regulator, the two IMTOs are are not licensed to carry out business in that sub sector and that anyone transacting business with them should be ready to face the huge risks.
In a statement by Mr Osita Nwanisobi, CBN ‘s Acting Director, Corporate Communications, the regulator said,
“The attention of the CBN has been drawn to the activities of Messrs Azimo and Transfer Wise, both of which are purportedly transacting business, albeit unauthorised, as IMTOs.
“The bank wishes to notify the general public that neither Messrs Azimo nor Transfer Wise is licensed by the CBN to operate as an IMTO.
“The public is, therefore, advised to desist from patronising the companies forthwith.
“Anyone who patronises the unregistered companies, does so at his or her own risk,” he warned.
