Connect with us

General

MTN Nigeria’s YDFS Launches MoMo Agent in Kano

Published

on

MTN Nigeria MoMo Agents Kano

A subsidiary of MTN Nigeria Communications Plc, Y’ello Digital Financial Services (YDFS) Limited, on October 27 and 29, 2019, visited the Danbatta and Wudili Markets in Kano State for the regional launch and sensitisation event introducing the MoMo Agent, a financial service product of YDFS.

The Kano unveiling came after previous regional launches that took place in markets in Lagos and Port Harcourt between September 26 and 28, 2019, and on October 10, 2019 in Ibadan, at the Bodija Market. The next and last phase of the regional launch is Owerri.

Fielding questions during the MoMo Agent launch and sensitisation event in Danbatta Market, Kumar Abubakar, Senior Manager Sales and Distribution, MTN Nigeria, Kano, while attesting to the uniqueness and importance of the mobile money service, said that in the Danbatta area of the State, that a greater number of the population were underbanked and unbanked.

“About 75 percent of the population in this part of Kano are financially excluded; they have not been covered and find it difficult to do cash transactions.”

However, Abubakar said MTN was leveraging its vast outreach of over 61 million subscribers across Nigeria and over four million subscribers in Kano to bridge this difficulty and provide reliable financial services.

“If you look at other competition we have in Nigeria, you will see that they have restrictions. They have a lot of plans in Nigeria but they don’t have coverage. So, what we leverage on is our customer base such that everywhere you go you will find an agent close to you and effect your transaction. What we are planning is to cover beyond the INEC’s polling unit per community in order to have a wide reachout for transaction,” Abubakar said.

At the launch, traders were signed up as MoMo Agents; customers carried out on-the-spot transactions; the audience were treated to impressive musical performance and gifted several household items during a raffle draw.

Officially launched in Abuja on August 29, 2019, the MoMo Agent service aims to support the Central Bank of Nigeria’s drive for financial inclusion, by providing safe and accessible money transfer to millions of Nigeria’s unbanked. Abubakar explained that YDFS is targeting 50,000 people before the end of the year and that there are already 3000 agents so far in Kano.

The idea behind the regional launch and sensitisation event is part of the YDFS’s mission to put financial services within easy reach of every bankable Nigerian. With the MoMo Agent service complementing existing banking services via extending access to simple money transfer services and other financial services nationwide, the subsidiary plans on rolling out about 500,000 Agents across Nigeria, as well as the Federal Capital Territory.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

Click to comment

Leave a Reply

General

Sea Piracy in Nigeria Drops 80%—NIMASA

Published

on

Sea Piracy

By Adedapo Adesanya

The Nigerian Maritime Administration and Safety Agency (NIMASA) has disclosed that sea piracy has declined drastically by 80 per cent on Nigeria’s territorial waters.

This was made known by the Director-General, Mr Bashir Jamoh, during a courtesy call by Executive Members of the Nigeria Union of Journalists (NUJ), Lagos State Council, led by the Chairman, Mr Adeleye Ajayi to the NIMASA headquarters in Lagos.

According to Mr Jamoh, $783 million had been lost to piracy in the Gulf of Guinea.

He said: “We have recorded a drastic reduction in piracy and this is enough for us to beat our chest and say that we are ready to return to the category ‘C’ of membership of International Maritime Organisation (IMO).

“However, the year 2021 has witnessed a significant turnaround under my leadership as insecurity on Nigerian waters had reduced by 80 per cent.”

Mr Jamoh said that the last time the country had a drop in piracy attack in the nation’s waterways was in 1994, saying that Nigerian waterways were one of the top 10 safest glasses of water in the world.

He noted that this achievement was enough reason to sensitise and inform the international community that the Nigerian waterways were now safe than ever before, as Nigeria must take its rightful position among the comity of nations globally.

“We want the cost of the insurance premium paid by Nigerians as a result of insecurity to be reconsidered as insecurity in the country’s waterways had drastically reduced,” Mr Jamoh said.

The NUJ chairman, in his remarks, assured NIMASA of regular publicity as well as a robust relationship between the Lagos Council of NUJ and NIMASA.

He lauded NIMASA for the giant strides it had achieved in the maritime sector, which included safeguarding of Nigeria’s waterways, collaboration with sister agencies of government as well as donations worth millions of naira to the Internally Displaced Person (IDP) camps and victims of the disaster in the country.

Continue Reading

General

LAWMA, Alliance Evacuate 75,000 Plastic Bottles from Ilashe Beach

Published

on

Plastic Bottles from Ilashe Beach

By Adedapo Adesanya

The Lagos Waste Management Authority (LAWMA) commemorated the 2021 World Clean-up Day by evacuating 75,000 plastic bottles from Ilashe Beach, Lagos.

The exercise was undertaken by Food and Beverage Recycling Alliance (FIBRA), an umbrella body for about 20 food and beverage manufacturing companies along the five kilometres Ilashe/Ibeshe beach area on the outskirts of Lagos.

Others were Nigerian Maritime Administration and Safety Agency (NIMASA); Lagos State Waterways Authority (LASWA), Nigerian Ports Authority (NPA), Lagos Ferry Service, among others.

The World Clean-Up Day, celebrated every September 18, is an annual global social action programme aimed at combating the global solid waste problem, including the problem of marine debris.

Speaking at the event, the Managing Director of LAWMA, Mr Ibrahim Odumboni, said at the event that his agency was using the opportunity of the World Clean-up Day to open up the entire Ilashe Island shoreline to proper cleanup.

Mr Odumboni urged residents and beach users to come together and make a difference by leaving an enduring legacy of a people-friendly environment for improved living and economic prosperity.

“The idea of the World Clean-up Day came up in 2018 when nearly two million volunteers, across individuals, corporate bodies, NGOs and government organizations, came together for massive clean-up activities in major cities across the world.

“We are setting the pace here in Ilashe Island of Lagos for our country. So, I enjoin all residents to sustain this effort.

“LAWMA is not leaving any stone unturned in our determined effort to rid Lagos State of all forms of solid waste.

“Our Marine Unit is effectively evacuating marine debris around the Lagos waterways and we will continue to increase the scope of our activities,” Mr Odumboni said.

Also speaking, the President of the Association of Waste Managers of Nigeria (AWAN), Mr David Oriyomi, noted that it was important to educate residents of the aquatic environment on the effects of dumping rubbish into the water.

Mr Oriyomi said that the fishes feed on that rubbish while human beings fed on the fishes which was very dangerous to human health.

In his remark, the Chairman of Lagos Recyclers Association, Mr Femi Idowu, noted that what people see as trash, was actually money, suggesting that people should see the economic value in waste materials.

The programme was attended by Special Adviser to the Governor on Tourism, Mr Solomon Bonu, General Manager of Lagos State Waterways Authority (LASWA), Mr Oluwadamilola Emmanuel, Executive Secretary of FIBRA, Ms Arase Aghareva, among others.

Continue Reading

General

SERAP Urges NASS to Reject Buhari’s Fresh Loan Request

Published

on

Fresh Loan Request

By Adedapo Adesanya

The Socio-Economic Rights and Accountability Project (SERAP) has urged the National Assembly to reject the fresh loan request of President Muhammadu Buhari.

Last week, at the resumption of plenary on the Senate after a break, Mr Ahmad Lawan, the Senate President, read a letter from Mr Buhari requesting to borrow $4 billion and €710 million.

But in a letter, SERAP said both chambers, the Senate and House of Representatives, should not grant this request until the publication of details of spending of all loans obtained since the Buhari-led administration took office on May 29, 2015.

In the open letter signed by SERAP deputy director, Mr Kolawole Oluwadare, the group expressed “concerns about the growing debt crisis, the lack of transparency and accountability in the spending of loans that have been obtained, and the perceived unwillingness or inability of the National Assembly to vigorously exercise its constitutional duties to check the apparently indiscriminate borrowing by the government.”

SERAP said: “The National Assembly should not allow the government to accumulate unsustainable levels of debt, and use the country’s scarce resources for staggering and crippling debt service payments rather than for improved access of poor and vulnerable Nigerians to basic public services and human rights.”

According to SERAP, “Accumulation of excessive debts and unsustainable debt-servicing are inconsistent with the government’s international obligations to use the country’s maximum available resources to progressively achieve the realisation of economic and social rights, and access of Nigerians to basic public services.”

The letter read in part: “The country’s public debt has mushroomed with no end in sight. The growing national debt is clearly not sustainable. There has been no serious attempt by the government to cut the cost of governance. The leadership of the National Assembly ought to stand up for Nigerians by asserting the body’s constitutional powers to ensure limits on national debt and deficits.

“SERAP urges you to urgently propose a resolution and push for a constitutional amendment on debt limit, with the intent of reducing national debt and deficits. This recommendation is entirely consistent with the constitutional oversight functions and spending powers of the National Assembly, and the country’s international anti-corruption and human rights obligations.

“Indiscriminate borrowing has an effect on the full enjoyment of Nigerians’ economic and social rights. Spending a large portion of the country’s yearly budget to service debts has limited the ability of the government to ensure access of poor and vulnerable Nigerians to minimal health care, education, clean water, and other human needs.

“Should the National Assembly and its leadership fail to rein in government borrowing, and to ensure transparency and accountability in the spending of public loans, SERAP would consider appropriate legal action to compel the National Assembly to discharge its constitutional duties.

“The National Assembly under your leadership has a constitutional responsibility to urgently address the country’s debt crisis, which is exacerbated by overspending on lavish allowances for high-ranking public officials, lack of transparency and accountability, as well as the absence of political will to recover trillions of naira reported to be missing or mismanaged by the Office of the Auditor-General of the Federation.

“The National Assembly should stop the government from borrowing behind the people’s backs. Lack of information about details of specific projects on which loans are spent, and on loan conditions creates incentives for corruption, and limits citizens’ ability to scrutinise the legality and consistency of loans with the Nigerian Constitution of 1999 (as amended), as well as to hold authorities to account.

“SERAP notes that if approved, the country’s debts will exceed N35 trillion. The government is also reportedly pushing the maturity of currently-secured loans to between 10 and 30 years. N11.679 trillion is reportedly committed into debt servicing, while only N8.31 trillion was expended on capital/development expenditure between 2015 and 2020.

“Ensuring transparency and accountability in the spending of loans by the government and cutting the cost of governance would address the onerous debt servicing, and improve the ability of the government to meet the country’s international obligations to use maximum available resources to ensure the enjoyment of basic economic and social rights, such as quality healthcare and education.”

Continue Reading

Like Our Facebook Page

Latest News on Business Post

Trending

%d bloggers like this: