Worldremit commends CBN on re-launch of IMOTS

WorldRemit, a digital remittance service, has commended the Central Bank of Nigeria (CBN) on the re-launch of the International Money Transfer operators (IMOTS) to enhance the economy.

The company in a statement made available online on Wednesday said that the move would help Nigerians in the Diaspora to contribute effectively to the system.

The CBN had on Tuesday approved 11 companies for International Money Transfer Operators (IMTOs).

The 11 companies will join the Western Union, Money Gram and Ria that were operating making them 14 IMTOs operating in the sector.

“At the beginning of August 2016, hundreds of IMTOs suspended their operations, leaving the Nigerians the Diaspora to rely on just three approved companies to send money home as well as other unregulated and informal networks.

“Now WorldRemit has received a letter of approval from the CBN enabling its services to Nigeria to be resumed,” it said.

Commenting on the development Ismail Ahmed, the founder and CEO of WorldRemit, said that the decision was good for the company and the sector.

“We launched our service to Nigeria in 2011 when we pioneered instant deposits to all bank accounts.

“Our service provided the Nigerian Diaspora with an easy, secure and low-cost way to send money home as well as bringing much-needed foreign exchange into the local economy.

“We are delighted that we can now resume operations,” he said.

He further commended the CBN for reaffirming the country’s commitment to building an enabling environment and level playing field for international money transfer services to Nigeria.

According to him, the increased competition will help to bring the estimated 50 percent of remittances to Nigeria.

The remittances, he said would currently go through unregulated, informal networks into formal networks channelled through licensed IMTOs.

“We’re grateful to the many Nigerians both at home and in the Diaspora that supported our call for money transfers to be restored.

“A competitive remittance market provides Nigerians with greater convenience and better pricing,” he added.

He said that to celebrate the re-launch of its service to Nigeria, “WorldRemit is offering promotional pricing of 0.01 dollar, 0.01 euro, 0.01pounds or equivalent on all money transfers to Nigeria until Sept. 30, 2016.”

Comments

Court grants Fani-Kayode N50m bail

Fani-kayode sandwiched by EFCC officials Justice James Tsoho of the Federal High Court Abuja on Thursday granted a N50m bail to former spokesman of the Goodluck Jonathan Campaign Organisation, Chief Femi Fani-Kayode. Fani-Kayode was arraigned by the Economic and Financial Crimes Commission (EFCC) on a five-count charge of money laundering to the tune of N26m. Fani-Kayode is the sole defendant in the fresh charges numbered, FHC/ABJ/CR/140/2016. The EFCC accused the defendant of diverting 26 million Naira allegedly received from the ONSA while Sambo Dasuki was in office. The anti-graft agency also accused him of handling the said N26 million without going through financial institution as required under the Money Laundering Act. The embattled former minister is already facing 17-count charge of money laundering before the Lagos Division of the court, along with a former Finance Minister; Nenadi Usman, Danjuma Yusuf and a firm; Joint Trust Dimension Nigeria Limited. They were charg...

Pope not involved in Colombian peace deal- Vatican

Pope Francis Pope Francis has turned down a request to play a role in the peace deal between the Colombian government and the Revolutionary Armed Forces of Colombia (FARC) rebel group. The Vatican in a statement issued on Wednesday in in Vatican City said that an invitation was sent to his Holiness in early August to appoint a representative to participate in the committee that selected the judges for the talks. The statement said that though Pope Francis supported the peace process, he, however, reiterated that he would not get involved in Colombian peace deal. It said that Pope was praying for the enlightenment of the hearts and minds of those who were called to promote the common good of the Colombian nation. A deal was announced last week, putting an end to five decades of internal conflict between government forces and the FARC rebels. The agreement, which needed to be ratified through a referendum in Oct. 2, would entail setting up a special court to grant amnesties or pu...

Man docked for defiling 9-year-old girl

magistrate-court A 33-year-old man, Godwin Otobo, was on Monday docked at a Surulere Chief Magistrates’ Court in Lagos.For allegedly defiling a nine-year-old girl, ‎Otobo, who lives at No. 10, Borrow Pit St., Sangotedo-Ajah area of Lagos, was said to have defiled the underage girl whose parents also reside in the same compound. The Prosecutor, Sgt. Anthonia Osayande, told the court that the accused committed the offence at about 9.00 p.m. sometimes in September. “The accused defiled the girl in the night when she was fetching water.‎ “The offence contravened Section 137 of the Criminal Law of Lagos State, 2011,’’ Osayande told the court. The accused pleaded not guilty to the one-count charge of defilement. Ruling on a bail application filed by the accused, Chief Magistrate Ipaye Nwachukwu, granted him bail in the sum of N500,000 with two sureties in like sum. She said one of the sureties must be a property owner in Lagos State, while the other must be a civil servant on grade...

Global Naija Info

Search This Blog