Ecobank Nigeria in collaboration with MoneyGram, would commence money transfer service from Nigeria to any part of the world.
The product, which is tagged ‘MoneyGram Naija Sends, would enable Nigerians to send money abroad through any of the bank’s branches in the country while the funds are received in specified currency in the receiving country.
The pan-African bank said the initiative was in line with the recent introduction of the revised guidelines for international money transfer services by the Central Bank of Nigeria (CBN)
Ecobank that customers desiring to use the service would be required to pay the Naira equivalent of the amount to be transferred (plus applicable charges) to the bank while the beneficiary in destination country would receive the equivalent of the amount paid by the sender.
Kingsley Umadia, executive director, Ecobank Nigeria, said the launching of product represent a significant milestone in the bank’s partnership with MoneyGram. “This innovative, customer-centric initiative is another way of delivery of excellent service to our customers. As a bank, we will continue to deliver and raise the bar of customers’ satisfaction,” adding that it would also boost trade across the continent.
Similarly, Alex Hoffman, executive vice-president, Business Development and Global Product, MoneyGram, said that the new collaboration was in line with the spirit of MoneyGram, which promotes progress.“We believe in never being satisfied with the status quo, we believe in pushing the boundaries to give more to our customers the ability to send out of Nigeria, what we in Nigeria call Naija Sends. This represents our commitment to movement. I will like to express my confidence that Ecobank shall deploy its characteristic excellence in marketing, operations and compliance to this product, and I am sure by December, Ecobank will be the number one MoneyGram send agent in Nigeria,” he said.
By Dike Onwuamaeze