MoneyGram launches ‘ Naija Sends’ money transfer service

Global money transfer firm MoneyGram has rolled out its outbound money transfer services from Nigeria, with its first transfer to UBA Bank Ghana.

The Central Bank of Nigeria (CBN) recently licensed MoneyGram to engage in outbound money transfer services from Nigeria.

MoneyGram thus becomes the second operator after Western Union to operate outbound money transfer services from that country.

The initiative, which allows individuals to transfer money from Nigeria to over 200 countries, is aimed at alleviating the stress of transferring money from Nigeria.

At an event to launch the operations, dubbed ‘Naija Sends’ at UBA’s head office in Lagos, the Managing Director of UBA, Mr Philips Oduoza, sent money from Nigeria to recipients in Ghana.

He sent Naira, which was received in real time in Ghana cedis by the Deputy Managing Director of UBA Ghana, Mr Usman Isiaka.

The transaction was witnessed by the media and other assembled guests both in Ghana and Nigeria via video link.

Ghana and Nigeria have strong ties, in business, culture and history that culminate in a lot of movement of goods, people and funds.

Mr Oduoza said ‘Naija Sends’, would boost trade and business between African countries, as many Nigerians and other West African citizens who did business across Africa, no longer had to move around with cash.

He described the new money transfer service as yet another testimony to the innovative, customer-centric disposition of both UBA and MoneyGram.

Mr Isiaka noted that UBA was excited to be the first bank to partner MoneyGram in rolling out the services from Nigeria.