The Managing Director of Fortis Mobile Money, Mr. Henry Nwawuba has said the company had concluded arrangements to deploy 50,000 agents across the country within the next twelve months.

He also said that his company was committed to rolling out unrestricted financial services to the over the 60 million Nigerians on the MTN network in the next twelve months.

Nwawuba said this in Lagos where the firm have over 950,000 registered users. He also said that the mobile banking firm had gone into partnership with MTN.


“Also with the biggest network provider, MTN, we have access to tap into over 60 million customers as we roll out our job is to build a robust project network. So we are going to be deploying 50,000 agents across Nigeria in the next twelve months, yes we have started the launch in Lagos but very rapidly as transactions take off. You will see us going to the South-west, the North, the North-central, South-east and all of that to build a robust system but without building them, mobile money will not work.

“MTN is opening up a mobile network and this is a significant achievement, every mobile money in Nigeria is looking for a kind of access that telecom networks provide. So what we have achieved today is that MTN is opening up a mobile network with network infrastructure that will give us the king of access that would be user friendly to all our customers,” he said.

According to him, Fortis Money would through its partnership with MTN, serve a portion of Nigerians who do not have access to fund.

Speaking at the event, the Chief Executive Officer, MTN Nigeria, Mr. Mike Ikpoki, said that the product would transform the Nigerian economy.

He said mobile money users would be able to transfer money, pay bills, top up on air time and shop- all from their mobile phone, stressing that mobile money represented another opportunity to bring additional added value to its growing subscriber base.

Speaking further he said, the use of mobile money product would not only improve the quality of the people’s lives but also encourage banking as opposed to storing ones earnings in cash.

He added that the impact of mobile money would flow into other segments of the society and have a multiplier effect on the Nigerian economy.