Global stablecoin payments company NALA, has officially been granted an International Money Transfer Operator (IMTO) license by the Central Bank of Nigeria (CBN). Alongside this regulatory milestone, NALA has successfully completed a direct integration with the Nigeria Inter-Bank Settlement System (NIBSS).
These developments mark a significant leap in NALA’s mission, to Build Payments for the Next Billion by providing faster, more affordable, and highly reliable cross-border payment solutions for the international Nigerian Diaspora community. By holding a direct license and integrating with Nigeria’s central switch, NALA eliminates third-party dependencies, ensuring higher transaction success rates and near-instant settlements.
Strengthening regulatory compliance and local infrastructure
The issuance of the IMTO license reinforces NALA’s commitment to operating within the highest standards of global regulatory compliance. This official approval allows NALA to scale its operations within Nigeria’s regulated ecosystem, offering fully compliant remittance services to individuals and businesses.
The direct integration with NIBSS, the heart of Nigeria’s financial payments system, enables NALA to power secure, real-time payouts directly to all local banks and mobile wallets across the country. This technical milestone ensures that NALA’s global payments network is deeply rooted in Nigeria’s robust financial architecture.
Addressing the cost of remittances
Cross-border remittances remain a vital financial pillar for millions of Nigerians, yet high fees and slow processing times have historically drained value from the economy. NALA is addressing these challenges head-on by creating transparent, secure services that reduce costs and improve the speed of money moving into Nigeria and beyond.
Quotes:
Nicolai Eddy, NALA Co-founder and COO, said:
“Securing our IMTO license and integrating directly with NIBSS is a pivotal moment for NALA in Nigeria. Trust is the most valuable currency in global payments, and this achievement reflects our deep commitment to global regulatory standards and our desire to build financial infrastructure alongside trusted national institutions. Nigeria is a cornerstone of our mission, and with this direct integration, we aren’t just expanding access—we are ensuring that every transaction is faster, cheaper, and more transparent for the millions of people who rely on us.”
Nigeria: Africa’s remittance powerhouse
The importance of this license is underscored by Nigeria’s position as a global leader in diaspora contributions:
● Record Inflows: In 2025, Nigeria’s remittance inflows reached $23 billion, the highest level recorded in five years.
● Market Leadership: Nigeria accounts for approximately 35% of all remittance flows to Sub-Saharan Africa.
● Economic Impact: Remittance inflows have averaged 80% of Nigeria’s federal budget in value, significantly outstripping both foreign direct investment (FDI) and foreign aid.
● Expanding Market: With a population projected to reach 242.5 million by 2026, Nigeria represents one of the most dynamic consumer markets in the world.
● Digital Growth: Digital channels for these transfers are expanding rapidly, with an expected annual growth rate of 15.92%.
A growing global footprint
With licensed operations across Africa, Europe, the UK, and the US, and expanding infrastructure across Asia, NALA continues to build a trusted global payments network. The company’s investment in local partnerships and treasury enables it to power safe, real-time payments at scale for both consumers and global enterprises.
