Draconian Laws Force Remittance Companies out of Nigeria, Worldremit Appeals


Nigeria among top beneficiaries of remittances from Europe

Somalilandsun- As Hundreds of global remittance companies forced to cease transfers to Nigeria leaving only Western Union, MoneyGram and Ria in operation, WorldRemit, a leading online remittance provider, is calling for the urgent restoration of money transfers as draconian new rules leave virtually all money transfer operators (MTOs) unable to provide services to the West African country.
According to WorldRemit founder and CEO, Ismail Ahmed “This move is arbitrary, inexplicable and hugely detrimental to the Nigerian diaspora who rely on hundreds of money transfer companies and banks, providing them with choice, convenience and competitive pricing.

According to the International Fund for Agricultural Development (IFAD), disclosed in a report published on Monday in Rome, that the Europe’s 50-million-strong migrant population sent home 110 billion dollars in 2014 with Nigeria topping the chart.

WorldRemit founder and CEO Ismail Ahmed

Continue reading WorldRemit calls for urgent restoration of money transfers to Nigeria