International transfers through Western Union, others to be paid out in naira

International transfers through international money transfers operators (IMTOs) will be paid out in naira in line with recent guidelines from the Central Bank of Nigeria (CBN).

Some of the affected IMTOs include Western Union, MoneyGram, Rapidtransfer, Ria, and other CBN approved IMTOS, according to a recent notice issued by Ecobank Nigeria, which was seen by Nairametrics.

The Ecobank Nigeria notice read: