Nigeria’s Glo Mobile has signed an agreement with Afripay Ltd to acquire a mobile money license from the Central Bank of Nigeria, in preparation for the commercial launch of Nigeria’s first Mobile Money Services.

This move will open Nigeria subscribers to mobile money accounts to store Electronic Value (EValue) of money easily on their mobile phones; using their mobile numbers as their account numbers.

Each subscriber with activated the Mobile Money service on their phones can also transfer money to any mobile number, initiate and complete transaction like payment of goods as well as buy airtime top-up for themselves and others!

The duo, Glo Mobile, a top telco in Nigeria and UBA,  a leader in the country’s banking sector, aim at making the U-Mo product available in the remotest parts of the country, from the smallest villages and local markets to the largest towns in Nigeria.

To assess U-Mo service, as dubbed by the partners, the subscribers will have to register then dialing *866# for USSD or by downloading the menu through a link provided by Afripay for Java application, upon registration.

Existing Glo subscribers and new ones can perform various operations including: Deposit/Cash-In; Withdrawal/Cash-Out; Transfer from mobile to mobile; Buy Airtime credit for self or for others and Bill Payment. Others are Account maintenance including balance enquiries, last transactions and mini-statement. It will also enable customers to request for PIN change. Other lifestyle changing products and remittances will be introduced with time.

Agents have been trained in urban and rural areas to serve customers on behalf of UBA/Afri-Pay. Visit any Glo Mobile outlet, Glo Zones or UBA branches for details.