The Central Bank of Nigeria (CBN) has warned that Azimo and Transfer Wise are not licensed to operate as international money transfer operators (IMTOs).
Azimo and TransferWise are both London-based online money transfer providers.
In a statement issued by Osita Nwanisobi, the bank’s acting director of corporate communications, CBN warned that persons who patronise the unregistered companies do so at their risk.
“The attention of the Central Bank of Nigeria (CBN) has been drawn to the activities of Messrs. Azimo and Messrs. Transfer Wise, both of which are purportedly transacting business, albeit unauthorised, as International Money Transfer Operators (IMTOs),” the statement read.
“The Bank wishes to notify the general public that neither Messrs. Azimo nor Messrs. Transfer Wise is licensed by the Central Bank of Nigeria to operate as an International Money Transfer Operator (IMTO).
“The Public is therefore advised to beware of the activities of Messrs. Azimo and Messrs. Transfer Wise and desist from patronising the companies forthwith. Anyone who patronises the unregistered companies, does so at his or her own risk.”