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Afribank signs on Moneygram

Category: Products & Services

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Afribank signs on Moneygram

September 20, 2007



Afribank Nigeria Plc and MoneyGram International yesterday entered into a business relationship that would make the Nigerian banking public and others to receive money send to them from any part of the world through Afribank anywhere in Nigeria.


The two companies formally signed an agreement yesterday at the Golden Gate Paradise, Ikoyi, Lagos which makes Afribank an agent of MoneyGram for international money transfer business in Nigeria.

Group Managing Director of Afribank, Mr. Sebastian Adigwe, assured Nigerians that the Bank would offer excellent MoneyGram services through convenient, prompt response, accessibility and a solid platform that would make the process of receiving money sent through Afribank a delightful experience.


“We have provided sound structures and personnel that will drive MoneyGram international money transfer efficiently and excellently. The Bank has installed robust information technology platform, engaged skilled and experienced staff, re-engineered its internal operations and branches for optimum service delivery services 24/7 , Mr. Adigwe stressed.


He added that the Bank has set a minimum level of efficiency obtainable in all its designated branches while MoneyGram desks have been created in branches with backup facilities. A 24 hour customer care line will also be established to ensure that enquiries, monitoring of funds and comments on the Afribank MoneyGram services are attended to promptly.


Apart from paying recipients in US dollars, the Bank is also providing additional value to MoneyGram money remitters and receivers by creating investment windows for money sent or received via MoneyGram in the Bank. MoneyGram money remitters and receivers can avail themselves of Afribank customized services to invest their money in Afribank for either short or long term investments.



Afribank assured that it is going to drive the product through innovations and value creation such as the establishment of Red Shops in Lagos, Benin, Enugu, Port–Harcourt and Ibadan where only MoneyGram transactions will be attended to in addition to the over 250 branches.


The Group Managing Director said Afribank is ready to carry out instructions from recipients to purchase shares on their behalf through our subsidiary, AIL Securities. This will enable beneficiaries to enjoy good capital appreciation or good dividend payout. Money remitters can also invest their money in real estate through Afribank Estate Company or invest in high yield investment options in Afribank. Parents and guardians can remit money into Afribank for the education of their wards in

Nigeria through Afribank Educational Savings Account. 
Mr. Chinedu Onyia, Executive Director, Consumer & Retail Banking, stated that Afribank’s partnership with MoneyGram International is a union of two innovative brands that would offer superior banking services in the international money transfer business.


The country Director of MoneyGram,

Nigeria, Mrs. Joke Giwa, noted that MoneyGram partnership with Afribank is bound to produce great experience and would ensure that its services are more accessible to more Nigerians.


She described Afribank as a well known brand, experienced and driven by people with new spirit for excellence which is responsible for the phenomenal growth of the Bank in recent times.


“We are very optimistic that the partnership of the two great brands is the best that has happened to MoneyGram International assuring that with the innovations Afribank is brining into the business, Nigerian banking public would have access to international standard services, Mrs. Giwa stated.



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