OPay Secures CBN Approval for Money Transfer

By November 20, 2019 Uncategorized

A payment service provider, food delivery and loan services firm, OPay, has been given approval by the Central Bank of Nigeria to commence international money transfer in Nigeria.

The Director, Remittances Services, OPay, Mr Kunle Olamuyiwa, said in a statement that OPay’s infrastructure in Nigeria would make partnership for global remittance companies easier and faster to help customers receive money directly into their bank accounts or mobile wallets.

He said, “The plan is to distort the remittance space and ensure that international money transfer into Nigeria is safer, faster and more affordable.

“Also, recipients can go cash out their funds from their OPay wallets at any of over 100,000 OPay mobile money agents in Nigeria. We are already working with major global remittance companies around the world and will start facilitating remittances to Nigeria with these partners, ensuring the best fees and exchange rates, speed and security.”

Source: Punch