CAB Payments is pleased to announce that Crown Agents Bank has secured an International Money Transfer Operator licence (“IMTO”) from the Central Bank of Nigeria as part of its strategy to develop meaningful relationships with key central banks and regulators in important markets.

With the granting of the licence Crown Agents Bank (CAB) is well placed to offer more solutions to a wider range of clients, particularly non-bank financial institutions. Under the IMTO licence, CAB will expand its payment capabilities in Nigeria, including diaspora remittances and other international inflows.

Neeraj Kapur, Group CEO of CAB Payments, said: “We are delighted to have secured the International Money Transfer Operator licence from the Central Bank of Nigeria, following the work we have done to build our relationship as a trusted partner. It represents the continued momentum we are building at CAB to extend our offering to our clients, drive improved performance, resilience and sustainable growth.”