Wise Finally Secures IMTO Licence in Nigeria, Cementing Its Local Commitment

Wise has officially obtained its International Money Transfer Operator licence in Nigeria. This licence lets the firm move beyond partner networks and fully control its pricing and customer experience. Nigeria ranks among the world’s top remittance markets, with billions sent home each year. Until now, Wise processed nearly £600 million through third-party arrangements, a workaround that limited its scope. With regulatory approval, Wise can roll out its full suite of services. Multi-currency accounts, business banking tools and international debit cards could soon be available to Nigerian users. This move arrives alongside growing local competition from fintechs that know the market well. More players mean better pricing, faster transfers and greater transparency for everyone sending money in and out of Nigeria.

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