Babajide Komolafe

The Central Bank of Nigeria (CBN) said on Tuesday it would grant licenses to more firms willing to operate Cash-In-Transit and Currency Processing (CP) operations across the country.

The Director of Corporate Communications Department, CBN, Mr. Isaac Okoroafor, disclosed this while speaking on the revised guidelines for the registration of Cash-In-Transit and Currency Processing companies in Nigeria released by the apex bank on Tuesday.

Among other things, the guidelines mandate all companies, including deposit money banks, who are desirous of providing currency distribution and/or currency processing services in Nigeria, either for themselves or for other deposit money bank(s) to register with the CBN.

The apex bank had in May licensed eight companies as CIT firms and two companies for currency processing.

Vanguard

.