Bitcoin Remittance Chances For Nigeria Are Slim To None

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Money send services are disposed to intrusion by new technologies. Many people feel Bitcoin, and other cryptocurrencies are a legitimate hazard to remittance services. But in Nigeria, MoneyGram will continue a operations, as they are strictly recognized as a devoted income send provider. This news comes on a heels of several remittance height shred their licenses revoked dual weeks ago.

It will not be easy to try into a money send space in African countries, unfortunately. Nigeria is tightening a hold on a marketplace by forcing companies to be strictly recognized as income transmitters. The Central Bank of Nigeria recently altered a process on how these companies can continue to yield services to Nigerians.

MoneyGram Remains In Business In Nigeria

MoneyGram lets users send and accept supports from Nigeria to a rest of a universe and clamp versa. Funds can be retrieved from a internal agent, or have it deposited into their personal bank account. Given a standing of a Nigerian economy right now, many companies were handling in a bylines of legality, forcing extreme measures by a government.

MoneyGram Anglophone Africa Head Kemi Okusanya stated:

“Lagos has been selected to offer as MoneyGram’s heart for Anglophone Africa operations.


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