BEWARE!!! Azimo And Transfer Wise Not Registered IMTOs – CBN Voices Out

BEWARE!!! Azimo And Transfer Wise Not Registered IMTOs – CBN Voices Out—-As part of its duty in curbing wide spread financial fraud, the Central Bank of Nigeria has affirmed the illegitimate status of the controversial Azimo and Transfer Wise schemes, stating that they are both unauthorised as International Money Transfer Operators (IMTOs) in Nigeria

The Genius Media Nigeria reports that the recent disclaimer was issued by the Central Bank through a verified tweet, as seen by Nairametrics. In lieu of this, the apex bank has warned citizens and potential investors to beware of the schemes, noting that anyone that patronizes the schemes does so at his or her own peril.

According to report prominent Nigerian banks such as FBN, GTB, Fidelity, Zenith and others had issued disclaimers, warning its customers against the controversial Azimo money transfer scheme.

What they are saying: Issuing a disclaimer against the aforementioned schemes, the CBN stated: ‘’The attention of the Central Bank of Nigeria (CBN) has been drawn to the activities of Messrs. Azimo and Messrs. TransferWise, 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 patronizing the companies forthwith. Anyone who patronizes the unregistered companies, does so at his or her own risk.’’