Group, MTN launch `MoMo’ money transfer in Imo

Group, MTN launch `MoMo’ money transfer in Imo

Traders in Owerri, the Imo capital have lauded MTN Nigeria over the launch of MoMo Agent, a financial services product by its subsidiary, the Y’ello Digital Financial Services (YDFS).

News Agency of Nigeria (NAN) reports that YDFS in collaboration with MTN officially launched the product on Wednesday at the Relief Market, Owerri.

Some of the traders, who expressed joy over the product, commended MTN for bringing easy financial services to their doorsteps.

Mrs Chinyere Ajuzieogu, who deals in textile materials, was full of praises for YDFS and MTN.

“We no longer have to go to the bank to send money to customers. Now we can do it from the comfort of our shops and even get some commission.

“I am grateful to MTN and their subsidiary, the YDFS for helping us ease financial transactions,” she said.

Another trader, Mr Hyacinth Ugorji commended YDFS for the timeliness of the launch adding that the product would be greatly beneficial to traders especially with the approaching yuletide.

Speaking during the launch, the General Manager, Eastern Regional Operations, MTN Nigeria, Mr Innocent Entonu said that the reception of the MoMo Agent by Imo residents was impressive.

Entonu added that the move was part of efforts by YDFS to support the CBN financial inclusion drive by providing safe and accessible money transfer to millions of Nigeria’s unbanked.

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“This launch and sensitisation is to officially introduce the product and also inform the larger Imo populace of our presence.

“Just as we’ve done in other regions across the country, our goal remains to partner the CBN to increase the apex banks financial inclusion drive,” he said.

Also speaking, the Activation Manager, Mobile Financial Services, YDFS , Mr Daniel Orobiyi said that there were over a thousand registered MoMo Agents and counting in the State.

He added that the subsidiary would roll out about 500,000 Agents across Nigeria adding that the launch had already taken place in Lagos, Port Harcourt, Ibadan and Kano, after the official launch in Abuja on August 29.

NAN also reports that traders were signed up as MoMo Agents as customers carried out on-the-spot transactions, and were treated to impressive musical performance and gifted with several household items via a raffle draw.