Airtel, Access Bank, drive CBN’s 80% financial inclusion target

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BY OLABISI OLALEYE AND BLAISE UDUNZE

As part of efforts to facilitate the Central Bank of Nigeria’s financial inclusion target of 80 per cent of Nigerians by 2020, Access Bank Plc has collaborated with telecoms operator, Airtel to develop and launch mobile money service: Access Money.

This service allows customers to perform simple, secure and instant financial transactions using their mobile phones, which is also aimed at promoting financial inclusion for those with no access to formal financial services.

In his comments the Managing Director and Chief Executive Officer, Airtel Nigeria, Mr. Segun Ogunsanya, noted that Airtel as an innovative operator in Nigeria’s telecoms market was strategic in partnering Access Bank also one of the leading financial institutions in Nigeria, to create an enabling avenue for millions of Nigerians to gain financial inclusion. With Access money powered by Airtel, millions of Nigerians will be able to make purchases, pay for services and receive payments by the touch of a simple button on their phones. “We are indeed proud of our partnership with Access Bank and hope that many Nigerians will take advantage of this product”: he said.

With this innovative service, customers on the mobile network can send and receive money, make deposits and withdrawals, pay their utility bills and buy airtime for their lines. Added to the convenience this service provides is the ability of customers to receive money through agents nationwide or through card-less withdrawals from any Access Bank ATM machine.

Speaking at the launch of the product, Group Managing Director of Access Bank, Mr. Herbert Wigwe said, “Through Access Money, we will be providing financial access to more and more people and small businesses; creating an easier channel for the distribution of financial aid; and also making it easier for government to receive taxes and deliver welfare payments”.

According to him, Access bank and Airtel agreed to introduce Access Money powered by Airtel, into Nigeria’s financial landscape in line with the Financial Inclusion initiative of the Central Bank of Nigeria (CBN) even as it serves as a platform bring more and more of the under-banked and unbanked into the world of banking. “It is something that reaches new groups of people and helps them to build and grow the success stories of tomorrow. And it’s something we are proud to champion.”

Source : SunOnline

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