IMTO inflows down $193.14 million in Q1 2025, miss remittance target

Nigeria’s International Money Transfer Operator (IMTO) inflows declined by $193.14 million in the first quarter of 2025 despite the Central Bank of Nigeria’s (CBN) plan to double remittances through formal channels. Data from the CBN’s quarterly statistical bulletin shows that inflows fell to $888.39 million in Q1 2025, compared to $1.08 billion in the same […]

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