UBA, MONEYGRAM LAUNCH ‘NAIJA SENDS’ NEW OUTBOUND MONEY TRANSFER SERVICE IN NIGERIA
(October 14, 2014)


This service opens a new vista of opportunity for Nigerians to easily trade with other Africans and also trade with other parts of the world. It also offers a great platform to send money to loved ones abroad

October 14, 2014 – Africa’s global bank, United Bank for Africa (UBA) Plc and global money transfer giant, MoneyGram have launched Naija Sends the first outbound money transfers in Nigeria.

Just after the launch Group Managing Director of the bank, Mr. Phillips Oduoza, made the first transaction within minutes, thus becoming the first person to transact business using the new MoneyGram outbound money transfer service from Nigeria.

The service allows Nigerians to send Naira and receive local currencies in over 200 countries around the world by simply working into any UBA branch in Nigeria or in the 18 other African countries where UBA has operations outside Nigeria or through any other MoneyGram Agent Bank.

The launch event which took place at UBA’s head office in Marina, Lagos, was hosted by Oduoza, who did a live demonstration of how the service works by sending money from Nigeria to Ghana. He sent Naira, which was received in real time in Ghanaian Cedis by the CEO of UBA Ghana. The transaction was monitored both in Ghana and Nigeria via video link.

Speaking during the event, the GMD said the new UBA and MoneyGram outbound money transfer service will boost trade and business between African countries as many Nigerians who do business across Africa, no longer have to move around with cash since they can easily transfer money to their business partners in other African countries or in China, Europe and America to pay for goods and services.

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

“This service opens a new vista of opportunity for Nigerians to easily trade with other Africans and also trade with other parts of the world. It also offers a great platform to send money to loved ones abroad. As Africa’s global bank, we are proud to partner with MoneyGram to make this service available. It opens a whole new world of opportunities for our customers” Oduoza said.

On her part, Regional Manager, Anglohone West Africa, MoneyGram, Mrs. Kemi Okusanya, said the launch of Naija Sends has further deepened the brand’s reach and service in Nigeria.

“Over the last two decades MoneyGram has facilitated over 15 million transactions in Nigeria, enabling safe, convenient and reliable transfer of funds from the Nigeria Diaspora to their loved ones. As Africa’s largest economy, with over 10 million migrants, we are glad we are now able to also offer Nigerians the opportunity to send money abroad to their loved ones and for business transactions” Mrs. Okusanya said.

“MoneyGram with over 300,000 locations in over 200 countries, partnering with UBA with over 700 business offices in 19 African countries and offices in New York, London and Paris, offers the best choice for Nigerian’s sending money abroad to loved ones” she added.

http://starconnectmedia.com/2014/10/14/uba-moneygram-launch-naija-sends-new-outbound-money-transfer-service-in-nigeria/


ACCESS BANK PARTNERS MONEYGRAM ON OUTBOUND MONEY TRANSFER
(15th October, 2014)

Access Bank, in partnership with MoneyGram has launched the outbound money transfer service in Nigeria.
The newly launched MoneyGram outbound money transfer service, labelled: “Naija Sends”, allows Nigerians to send their naira abroad through any Access Bank branch and platform in Nigeria, while the funds are received in the currency of the receiving country.


Speaking at the event, Head; Personal Banking, Access Banking, Mr. Victor Etuokwu said: “What we promise our customers is speed, service and security. This means that we would offer them this service in a manner that is expeditious, quick, with minimal, but legal documentation; the service would be prompt and done in an environment that is secured. In other words, there would be no errors and there would not be fraud.”


According to Etuokwu, the limit on outbound money transfer was raised to $5,000 per transactions, up from $2,000, because there had been some discussions around that.
He noted that it was necessary so that those at the bottom of the pyramid who do trans-border transactions would see it as an enabler for their business.


“If you put the limit so low, you will cut off some micro entrepreneurs. So, it is a welcome development that the regulator is sensitive to some ideas that would grow the economy,” he explained.


Also speaking at the event, Head, Franchise Group, Access Bank, Ola Isola urged Nigerians to use the platform to relate with their loved ones and business partners across the world. “So, be it payment for a child in school, medical payment, business purchases across the world, this is a safe and secured platform. This is a platform that the people within the bottom of the pyramid are conversant with,” he said.


Commenting on the launch, MoneyGram Regional Manager for Anglophone West Africa, Mrs. Kemi Okusanya said, the launch of “Naija Sends” has further deepened the brands reach and service in Nigeria.


She noted that over the last two decades, MoneyGram has facilitated more than 15million transactions in Nigeria, enabling safe, convenient and reliable transfer of funds from the Nigerians in Diaspora to their loved ones. “As Africa’s largest economy, with over 10million migrants, we are glad we are able to offer this service in Nigeria today,” she said.


With this service, Nigerians can now send money to countries like UK and USA from Nigeria.

http://www.thisdaylive.com/articles/access-bank-partners-moneygram-on-outbound-money-transfer/191280/

Some things happen sometimes that make me scoff in disgust.
For ages, it seemed such was impossible. But Western Union broke the jinx in August when they partnered with First Bank (http://businessdayonline.com/2014/08/western-union-first-bank-launch-outbound-service-in-nigeria/), Moneygram woke up, Just two months later.

Something also tells me WU woke up because Paypal had made its entrance into Nigeria, exploiting the hole in outbound transfers.
Paypal had activated only outbound transfers because they knew such offer did not exist. I think they however did not activate the inbound transfers because they didn't see much opportunities therein compared to the outbound, as at then at least. There one-way transfer service for Nigerians did not, however, go down well with some Nigerians.
But it baffled me how CBN, in their bid to control the flow of foreigne currency, placed a restriction on the payment of inbound transfer customers with foreign currency. In my opinion, it made the foreign currency scarcer, widening the difference between the official and the black market prices further. Some people have made billions through round-tripping due to this, at the expense of helpless Nigerians.

Perhaps it's everywhere, but I am sure of Nigeria: people would be held ransome with clams that there is no alternative until someone actually proves them wrong.
Remember when people paid huge money and invested time and connection, just to secure a NITEL land line, even without success sometimes?
Remember when we paid N50 per minute for calls? It was not possible to have a per second billing, according to them then.
Remember when some companies said it wasn't possible to bill customers less than N10 per sms? NCC forced all down to N4 per sms.
Remember when they made some advanced analyses and concluded that it was not possible to bill customers less that N12 per minute of voice call?

I am waiting for a company that would make and entrance into the Nigerian internet data market and prove to them that with N3,000 or less, one can have unlimited access to the internet, with an amazing speed and least disruptions. I know that day will come, and very soon.

Nigeria is moving to greater heights.

https://m.facebook.com/story.php?story_fbid=10204945244419035&id=1478692709&ref=bookmark

It erandicate job opotunity 4 d aboki's dat changes currencies

Tenim47:
It erandicate job opotunity 4 d aboki's dat changes currencies

I dont think so

Tenim47:
It erandicate job opotunity 4 d aboki's dat changes currencies

Not really

I'd do PayPal anyday!

UBA


I dodge am.

Youngzedd:
UBA


I dodge am.

Would you still if they are the only bank that offers the service you need?

A step forward for Nigeria but why is this bank specific? It should encompass all banks offering money gram services in Nigeria.

ruffhandu:


Would you still if they are the only bank that offers the service you need?

NEVER!

ecrestglobal:
A step forward for Nigeria but why is this bank specific? It should encompass all banks offering money gram services in Nigeria.

It happens like that. Other bank would start signing up. These, to me, is just take off structures.

Youngzedd:


NEVER!

Hmn, that bad?

ecrestglobal:
A step forward for Nigeria but why is this bank specific? It should encompass all banks offering money gram services in Nigeria.

The service allows Nigerians to send Naira and receive local currencies in over 200 countries around the world by simply working into any UBA branch in Nigeria or in the 18 other African countries where UBA has operations outside Nigeria or through any other MoneyGram Agent Bank

I've never understood why companies try to brand their services as "First" when clearly someone else already did it?

Western Union already did this in Nigeria didn't they?

NaLaugh:
I've never understood why companies try to brand their services as "First" when clearly someone else already did it?

Western Union already did this in Nigeria didn't they?

That was why I posted this bro. Western Union started it with first bankbankbank.

ruffhandu:
Some things happen sometimes that make me scoff in disgust.
For ages, it seemed such was impossible. But Western Union broke the jinx in August when they partnered with First Bank (http://businessdayonline.com/2014/08/western-union-first-bank-launch-outbound-service-in-nigeria/), Moneygram woke up, Just two months later.
...