The Western Union Company has launched the outbound remittance service in Nigeria. This service will now see its Nigerian customers, for the very first time, send funds in minutes through western union around the world.
Since the Money Transfer service was launched in Nigeria in 1995, consumers in the country have only been able to receive funds.
First Bank of Nigeria Limited (FirstBank), Nigeria’s foremost banking institution, has become the first Western Union Agent to offer this service. The collaboration will enable Western Union consumers (as well as FirstBank’s customers) to enjoy Western Union’s new ‘outbound send’ offering through the bank’s branches.
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) said: “We are delighted that Western Union has taken the lead in providing outbound remittance services to Nigerians. Today’s launch demonstrates the company’s proactive step in taking advantage of the Central Bank of Nigeria’s vision of creating an enabling environment for the emergence of innovative and superior financial products that reduce transaction costs for Nigerians and give them a chance at living better lives.”
Aida Diarra, regional vice president for Africa, Western Union said: “We are very pleased to announce the launch of the “outbound send” service from Nigeria to destinations around the world. We anticipate that the outbound enabled service offering in Nigeria, Africa’s largest economy, will be instrumental in making positive economic impact in the country by supporting business growth, social development and financial inclusion”
Bisi Onasanya, group managing director/CEO, First Bank of Nigeria said: “Having been the first to offer Western Union Services in the country as far back as 1995, we remain committed to delivering innovative customer solutions and are proud to be the first bank to offer yet another excellent customer focused solution – the Western Union Out Bound Service – to the Nigerian market. As a Brand, we remain committed to putting our customers first”.
The initial launch of the outbound service is currently limited to select FirstBank branches until the service is rolled out to Western Union’s over 5,000 Agent locations nationwide.
Western Union also recently launched www.WesternUnion.ng; the new web site in Nigeria which allows the consumer to go online, log onto the website and direct funds they are about to receive to their personal account with any of the specified banks.