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CBN insists on $1,000 limit for outbound money transfers in 2019


The Central Bank of Nigeria (CBN) on Wednesday insisted on USD1,000.00 or its equivalent per quarter as allowable limit of International Money Transfer Operators (IMTO) outbound money transfer per transaction per person in the 2019 fiscal year, subject to review from time to time. This was stated in the Monetary, Credit, ForeignTrade and Exchange Policy…

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