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L-R: Dev:
eBusiness Manager, Stanbic IBTC Bank, Mr. Francis Nwoboshi;
CEO, Stanbic IBTC Bank, Mrs. Sola David -Borha; Chief Executive Officer,
MTN
Nigeria, Mr. Brett Goschen; and General Manager, Mobile Money
Marketing and
Strategy, MTN Nigeria, Mr. Usoro Anthony Usoro
at the signing ceremony.
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Dominant operator in the Nigeria’s telecommunications
market, MTN Nigeria and Stanbic IBTC Bank are partnering to push the case of
cash-lite further with signing of recent Memorandum of Understanding.
The event which held in Lagos, saw the Chief Executive
Officers of the two organisations reiterating their commitments to repositioning
of electronic payment (e-payment) in the economy.
They described the partnership as representing a major step
in Nigeria’s e-payment segment and will assist in the provision of secure,
convenient and user-friendly mobile money services to millions of people across
the country.
Chief Executive Officer, MTN Nigeria, Mr. Brett Goschen, was
quoted as saying in a press statement made available to ITRealms Online, that MTN’s partnership
with Stanbic IBTC Bank is in accordance with the telecommunications company’s
promise to empower its customers by providing them with improved services and
more innovative applications.
“Deployment of the mobile money service in Nigeria is
gradually changing the process of managing financial transactions in the
country. We are proud to partner with Stanbic IBTC Bank on facilitating this
positive change,” he said.
Also, Goschen said that mobile money, while bringing banking
services to the previously unbanked, equally opens up a wide range of benefits
and value added services to the banked sector, including corporate, small and
medium sized enterprises (SMEs) and individual customers.
Commenting, the CEO of Stanbic IBTC, Mrs. Sola David-Borha,
said the partnership would avail the bank of MTN’s nationwide platform to
provide mobile payment services and in the process break down the traditional
barriers hindering financial inclusion of millions of Nigerians.
She stressed that this would bring about low cost, secure
and convenient financial services to urban, semi-urban and rural areas across
the country, opening a new channel of financial services delivery and
complementing the Central Bank of Nigeria’s quest to usher in a cashless
economy in the country.
Mrs. David-Borha said her bank was very pleased to partner
with MTN on this strategic initiative.
“Our goal is to increase access to mobile money service
through this platform by providing an entry point for people that would not
ordinarily come into banking halls. The partnership will also provide the
banked with an alternative to handling physical cash by getting them to do
basic transactions using the mobile banking network,” she said.
Additionally, she noted that they are leveraging on banking
expertise, the large subscriber base of the MTN network and the knowledge users
have of the mobile phone to deliver non-traditional, low cost financial
services to all Nigerians, unbanked artisans, traders, market women and farmers
among others, as well as under-banked individuals,” she stated.
ITRealms Online
recalls that the mobile money initiative, an integral part of the broad
objectives of the FSS 20:2020 was conceived by the Central Bank of Nigeria as a
result of its critical nature to achieving a cashless society which, according
to the apex bank, is fundamental to the nation’s goal of becoming one of the
top 20 largest economies in the world by the year 2020.
MTN Nigeria Communications Limited is the acclaimed largest
mobile operator in Nigeria and West
Africa.
It is also the largest subsidiary in the MTN Group; a
multi-national telecommunications company which offers voice and data
communications products and services to individuals and businesses in 21
countries across Africa and the Middle East.
MTN’s vision is to be the leading provider of Information
and Communication Technology (ICT) services and alter the way Nigerians live,
work and play while its mission is to provide first class network quality,
customer service and value to all of its subscribers across Nigeria.
Remmy Nweke
ITREALMS Online ... delivering news for ICT4D
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