MTN Storms Markets to Absorb Traders as MoMo Agents

Modupe Gbadeyanka

Leading telecommunications firm in the country, MTN Nigeria Communications Plc, has commenced its aggressive campaign to promote its new financial services company, which was recently granted operational licence by the Central Bank of Nigeria (CBN).

Business Post had reported that the apex bank had given MTN Nigeria, through its subsidiary, Y’ello Digital Financial Services (YDFS), to operate financial transactions and after this, it launched the MoMo services in the country, which had been operational outside Nigeria, where MTN has presence.

To promote its MoMo mobile money transfer operations, MTN Nigeria went to some markets in Lagos and Port Harcourt in Rivers State to explain to traders and shoppers how the service works. This activation took place from September 26 to 28, 2019.

MTN Visits Markets

The markets visited were the Igando, Ikotun and Iyana Ipaja markets in Lagos and the Mile One market in Port Harcourt, Rivers State. Traders left their businesses to have a firsthand feel of how MoMo Agent works. At Mile One, the reception was such that not even the rain could stop them.

It was gathered that at the Igando market in Lagos, Nollywood sensation, Sanyeri Afonja, made a surprise appearance and interested traders were signed up as MoMo Agents.

There were live demonstrations of how the financial service works, with customers conducting on-the-spot transactions, and rewarded with gifts such as home appliances, branded stationery, among others.

Advantages of Momo Agent

Speaking on the advantages of MoMo Agent in Igando, the Chief Risk and Compliance Officer at MTN Nigeria, Mr Cyril Ilok, described MoMo Agent as “quick and instant regardless of the city in Nigeria where the recipient is located.”

At the Mile One market, YDFS Director, Usoro Usoro, emphasised on how the MoMo Agent service opens up a host of opportunities for everyone, through the creation of employment and facilitating business in rural and urban areas across Nigeria’s 774 local government areas.

Officially launched in Abuja on August 29, 2019, MoMo Agent aims to support CBN’s drive for financial inclusion, by providing safe and accessible money transfer to millions of underbanked and unbanked Nigerians.