The Central Bank of Nigeria (CBN) and First Bank of Nigeria (FBN) have disassociated themselves from two companies posing as International Money Transfer Operators (IMTOs) in Nigeria.
The CBN in a statement signed by its acting director, Corporate Communications, Osita Nwanisobi, debunked the claims saying 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 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.”
Reacting to messages sent by Azimo to some Nigerians living abroad, the apex bank had noted that neither Azimo nor Transfer Wise are licenced IMTOs in the country, just as FirstBank debunked claims by the companies that it is a receiving bank.
A mail sent to a Nigerian in Diaspora by Azimo reads “Dear Azimo Customer, I’m getting in touch as you are one of our great customers and I wanted to personally let you know that our service to Nigeria is back on again.
“As you know, we recently had to suspend Naira operations due to restrictions from the Central Bank of Nigeria. I’m happy to say that last week I met with Governor Godwin Emefiele in Abuja and as a result our service is back on today.
“As always with Azimo it’s the same superfast service with the same fantastic rates. Today we are offering: £1 = 475.6 Naira €1 = 403.7 Naira All with zero fee of course.
“Your payments will be paid within two hours (usually 15 minutes depending on which Nigerian Bank you send to) and we are working hard to speed up the time.
“So thanks for your patience now it’s time to get sending. Please feel free to get in touch if you have any questions or suggestions about Azimo we always love to hear from our customers.
“And remember to please spread the word: tell your friends and family about Azimo so they can benefit from our great rates and service as well. If you invite them using the mobile app you can earn £10 for every new user and they get £10 too.
“You can see some photos of my trip to CBN in Abuja below.”
On its part, FirstBank had posted a disclaimer on its social media handles saying, “We disclaim the listing of FirstBank as one of the receiving or paying Banks on Azimo.com by Azimo Limited, offering Global Money Transfer Services. FirstBank has no affiliation with Azimo and hereby publicly disassociates itself from it.
“Azimo is not a registered Money Transfer Service with the Central Bank of Nigeria (CBN) as such, not licensed in Nigeria. Anyone who transacts with Azimo is therefore doing so at his/her peril.”