MoneyGram celebrates 20 years of growth in Nigeria

MoneyGram celebrates 20 years of growth in Nigeria

Friday, March 25, 2016 4:39 am

Alex Holmes

Alex Holmes

Funsho Arogundade

MoneyGram, a NASDAQ MGI brand, is celebrating more than 20 years of successful growth with some of the company’s key agents in Lagos.

At a ceremony held this week at the InterContinental Hotel, Victoria Island, Lagos, Alex Holmes, MoneyGram’s Chief Executive Officer hosted senior executives of some of the company’s key agents including CEOs of Skye Bank, UBA and Fidelity Bank.

“We’re grateful for your longstanding commitment to MoneyGram, and for working with us to address a serious and relevant needs that has faced Nigerians, which is transferring money to loved ones across the world, quickly, securely and conveniently. Our combined efforts have enabled us to not only expand alongside our customers’ increasing needs, but also have contributed to the growth of MoneyGram,” said Holmes as he handed out milestone marker awards to each agent to honor the hard work, growth and success that has been achieved in Nigeria.

MoneyGram and bank officials  at the event

MoneyGram and bank officials at the event

MoneyGram currently operates in Nigeria through 16 banks of the 22 banks on the Central Bank of Nigeria register. This translates to over 4500 locations in Nigeria, where customers can send and receive money transfers.

In addition and as an indicator of its focus on sub-saharanAfrica, MoneyGram is the only money transfer operator to have a regional office in Lagos. In 2015 alone, $21 billion in remittances were received in Nigeria.

The World Bank estimates that nearly $34 billion in remittances will flow into Sub-Saharan Africa in 2016. Nigeria is a critical part of MoneyGram’s business.

Funsho Arogundade can be reached on :[email protected]

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