MoneyGram sees further growth in Nigeria

By The Citizen
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MoneyGram, a leading money transfer firm with over 20,000 points of sale in Africa, has re-iterated its confidence in the Nigerian economy and affirmed its interest in supporting the financial inclusion agenda of the Central Bank of Nigeria.

A statement by MoneyGram quoted its International Executive Vice-President for Europe, Africa and Emerging Channels, Mr. Carl Olav-Scheible, as saying this in Lagos.

Olav-Scheible, who is on a week-long visit to the country, was accompanied by a delegation of MoneyGram senior executives, including the Vice-President for Africa, Herve Chomel; Vice-President for Marketing, Ana Ansell; Vice-President for Finance, Neil Edwards; and Regional Director for North and West Africa, Francois Peyret.

The visit by MoneyGram International's top management is also to mark key achievements by the firm in Nigeria in its 17 years of existence, according to the statement.

The statement quoted Olav-Scheible as saying, 'The African remittance industry in particular is enjoying a vibrant growth, and MoneyGram is well positioned to provide remittance services to a growing community of customers. Nigeria is no doubt, an important factor to consider in our quest to achieve our aims.

'Through our strong partners, a reliable product and innovation, MoneyGram has added and continues to add value as it deploys its global market footprint to constantly deliver customer satisfaction.'

The money transfer firm's achievements in the country, according to the statement, include: its 15 millionth transaction; network growth to over 6,000 locations; and potential enablement of over 80 million phone users in Nigeria through the recent launch of MoneyGram on the PocketMoniMobile wallet.

MoneyGram says it boasts a local office in Lagos, where it hubs its Anglo West Africa operations.

MoneyGram offers over-the-counter money transfer services in Nigeria through its agent partners such as Access Bank, First Bank, UBA, Union Bank, Enterprise Bank, Sterling Bank, WEMA Bank, Fidelity Bank, Skye Bank, Union Bank, Mainstreet Bank and Keystone Bank.

The service is a critical lifeline, allowing Africa's largest Diaspora- Nigerians abroad to send money home to their loved ones for upkeep, healthcare and education.

The executive vice-president added, 'MoneyGram's impact in Nigeria over the last 15 years has not been limited to the delivery of safe, fast and convenient money transfer solutions. We have developed and supported the regulatory bodies in their quest to curb fraud and other financial crimes.

'Our good citizenship has seen MoneyGram invest significant parts of its revenue in good causes across the country. Consumer promotions, along with CSR and our favourable pricing policy are some of the ways we continue to show our commitment to Nigeria.'

MoneyGram enables consumers who are not fully served by the traditional financial institutions to meet their financial needs.