Nigeria’s money
transfer business landscape entered a new phase yesterday as Africa’s
global bank, the United Bank for Africa (UBA) Plc and global Money Transfer
giant, MoneyGram launched outbound money transfers in Nigeria.
The
newly launched MoneyGram outbound money transfer service allows Nigerians to
send money abroad through any UBA branch in Nigeria or Africa while the funds
are received in dollar or the currency of the receiving country.
With
this service, Nigerians can now send money to countries like UK and USA from
Nigeria. The Nigerian will send money in Naira, the person receiving in UK or
USA; will receive it in pounds or dollars. The outbound money transfer
service allows Nigerians to send money in Naira to over 200 countries around
the world by simply working into any UBA branch in Nigeria or in the 18 other
African countries where UBA has operations outside Nigeria or through any other
MoneyGram Agent Bank.
The
launch event which held at UBA’s head office in Marina, Lagos, was hosted by
UBA’s GMD/CEO, Phillips Oduoza, who had a live demonstration of how the service
will work by sending money from Nigeria to Ghana. He sent Naira, which was
received in real time in Ghana Cedis by the CEO of UBA Ghana. The transaction
was witnessed by the media and other assembled guests both in Ghana and Nigeria
via video link.
Speaking
during the event, UBA’s GMD said the new UBA and MoneyGram outbound money
transfer service will boost trade and business between African countries as
many Nigerians who do business across Africa, no longer have to move around
with cash as they can easily transfer money to their business partners in other
African countries or in China, Europe and America to pay for goods and services
bought.
He
described the new money transfer service which has been tagged ‘Naija
Sends’ as yet another testimony to the innovative, customer-centric disposition
of both UBA and MoneyGram.
“This
service opens a new vista of opportunity for Nigerians to easily trade with
other Africans and also trade with other parts of the world. It also offers a
great platform to send money to loved ones abroad. As Africa’s global bank, we
are proud to partner with MoneyGram to make this service available. It opens a
whole new world of opportunities for our customers” Oduoza said.
On
her part, Regional Manager, Anglophone West Africa, MoneyGram, Mrs. Kemi
Okusanya, said the launch of ‘Naija Sends’ has further deepened the brand’s
reach and service in Nigeria.
“Over
the last two decades MoneyGram has facilitated over 15 million transactions in
Nigeria, enabling safe, convenient and reliable transfer of funds from the
Nigeria Diaspora to their loved ones. As Africa’s largest economy, with over 10
million migrants, we are glad we are now able to also offer Nigerians the
opportunity to send money abroad to their loved ones and for business
transactions” Mrs. Okusanya said.
“MoneyGram with over 300,000 locations in over 200
countries, partnering with UBA with over 700 business offices in 19 African
countries and offices in New York, London and Paris, offers the best choice for
Nigerian’s sending money abroad to loved ones" she stated.
MoneyGram started operation in Nigeria 16
years ago with UBA as its first Agent Bank partner. Today, the MoneyGram
network includes 13 Agent Bank partners operating through nearly 5000
locations//end.
About United Bank for Africa Plc
United Bank for Africa Plc is one of Africa's leading
financial institutions offering banking services to more than 10 million
customers across over 700 business offices in 19 African countries. With
presence in New York, London and Paris, UBA is connecting people and businesses
across Africa through retail, commercial and corporate banking, innovative
cross border payments, trade finance and investment banking.
About
MoneyGram International
MoneyGram International, a
leading money transfer company, enables consumers who are not fully served by
traditional financial institutions to meet their financial needs. MoneyGram
offers money transfer services worldwide through a global network of 336,000
agent locations -- including retailers, international post offices and
financial institutions -- in more than 200 countries and territories. MoneyGram
also offers bill payment services in the United States and Canada. MoneyGram is
listed on the NASDAQ Stock Exchange under the ticker symbol MGI. To learn
more about money transfer or bill payment at an agent location or online,
please visit moneygram.com or connect with us on Facebook.
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