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Crown Agents Bank Awarded International Money Transfer Operator Licence From the Central Bank of Nigeria
Crown Agents Bank IMTO licence has been secured from the Central Bank of Nigeria, allowing CAB Payments to scale international remittance services. This move strengthens CAB’s role in cross-border financial infrastructure and supports a broader client base, including non-bank financial institutions.
With the granting of the licence Crown Agents Bank (CAB) is well placed to offer more solutions to a wider range of clients, particularly non-bank financial institutions. Under the IMTO licence, CAB will expand its payment capabilities in Nigeria, including diaspora remittances and other international inflows.
Neeraj Kapur, Group CEO of CAB Payments, said: “We are delighted to have secured the International Money Transfer Operator licence from the Central Bank of Nigeria, following the work we have done to build our relationship as a trusted partner. It represents the continued momentum we are building at CAB to extend our offering to our clients, drive improved performance, resilience and sustainable growth.”
With the Crown Agents Bank IMTO licence, CAB Payments improves its presence in Nigeria’s financial ecosystem, promoting resilience and sustainable payment growth.
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