Business Hilights
Tracking Nigeria's Headline Business News Online

MTN drives financial inclusion in Imo with MoMo 1,000 agents

Just like the smart way it took the Nigerian GSM market by massive rollouts of telephone services in 2000/2001 and today, it had not been rivalled, it has began another jounrey of leadership at the Relief Market Plaza in Owerri, the Imo State capital as MTN Nigeria took its fast spreading Mobile Money (MoMo) sensitization Programme targeting about 500,000 agents nationwide to deepen the Central Bank of Nigeria (CBN) campaign on financial inclusion.

The target of the campaign in Imo is to help residents to do their businesses with ease of digital transactions.

Under the MTN Nigeria’s The Imo initiative, MoMo Agents seeks to support the CBN’s efforts by providing “safe and accessible money transfer,” to millions of Nigeria’s unbanked and underbanked.

Addressing participants, the General Manager, Eastern Regional Operations, MTN Nigeria, Innocent Entonu said the programme is part of the group’s regional drive by Y’ellow Digital Financial Services (YDFS) Limited to popularize access to digital transactions.

He said “As you’re aware, the MoMo Agent is already being utilised by the people of Imo, and so this launch and sensitisation event is to officially introduce the product, and also inform the larger Imo populace of our presence. And like we’ve done in other regions across the country, our goal remains to partner the CBN to increase the apex banks’ financial inclusion drive.”

Business Hilights recalls that similar campaign had taken place in Abuja, August, as well as in various markets in other regions in the country, including Lagos, Port Harcourt, Ibadan, and Kano.

“The idea behind the regional launch and sensitisation event is part of the YDFS’s mission to put financial services within easy reach of every bankable Nigerian. With the MoMo Agent service complementing existing banking services via extending access to simple money transfer services and other financial services nationwide, the subsidiary plans on rolling out about 500,000 Agents across Nigeria, as well as the Federal Capital Territory,” he explained.

Earlier in his remarks, the Activation Manager, Mobile Financial Services, Daniel Orobiyi, revealed that so far, over 1,000 agents had registered in the Momo in Imo State.

He added that the level of success recorded so far showed that Nigerians have started seeing MoMo as the best acceptable new ways of doing secured businesses.