Introduction On January 31, 2024, the Central Bank of Nigeria (CBN) issued a Revised Guideline on the Operation of International Money Transfer Services in Nigeria. This new guideline, which replaces the 2014 version, is designed to provide clarity for International Money Transfer Operators (IMTOs) on financial remittances and outline the licensing requirements and approval processes. […]

Introduction In recent years, the Electronic Money Transfer Levy (EMTL) has become a significant aspect of Nigeria’s tax and financial landscape. Introduced primarily to generate revenue for the government, EMTL has broader implications, including the regulation of electronic payment systems. This article explores the workings of EMTL since its inception in 2020, its contributions to