Nigeria’s leading telecommunications company, Globacom few days ago did what it knows how to do best; revolutionalizing the Nigerian economy.
It was an evening of maximum infotainment as the financial inclusion drive received a major boost as the telecommunications giant announced the launch of its payment service bank, MoneyMaster PSB.
MoneyMaster was granted a payment service bank licence by the Central Bank of Nigeria (CBN) in 2020, and is expected to facilitate payment and remittance services within Nigeria, accept deposits from individuals and small businesses, issue debit and prepaid cards, operate electronic wallets, inbound remittances and carry out other services in line with CBN regulations.
In a statement on the commercial launch of the PSB, the company said, “our over-arching business objective remains to empower Nigerians by providing them with unlimited opportunities. MoneyMaster extends that objective as it targets the unbanked and under-banked with G-Kala its flagship product in order to deepen financial inclusion in Nigeria.”
According to the statement, MoneyMaster PSB will leverage on Globacom’s nationwide coverage and extensive agents’ footprint in the rural and urban areas to achieve its planned massive roll-out. It added that all a customer needs to do to open an account is dial*995# and then follow the prompts from a Glo line or from any other telecommunications network as MoneyMaster PSB is network agnostic.
The company promised that MoneyMaster PSB will redefine the payment service banking landscape and deepen financial inclusion in Nigeria the same way Globacom revolutionized the telecom industry with latest technology and unique products when it started operations in 2003.
With 133.5m bank accounts in Nigeria as at December 2021 according to figures released by the Nigeria Inter-Bank Settlement System (NIBSS) and with only 54 million BVNs registered as of April 10, 2022, there is a huge gap of about 79m Nigerians and potential for PSBs like MoneyMaster to help bring many unbanked and under-banked into the financial services ecosystem.
The event was headlined by the delectable Group Executive Vice Chairman of the company Mrs Bella Disu.
In attendance was the latest Globacom Ambassador, Tobi Amusan, World, Commonwealth and African champion in the 100 m hurdles. Also in attendance were Glo ambassadors from the entertainment industry, including screen goddess, Juliet Ibrahim.
Anchored by ace comedian, Gordons, it was a night of maximum entertainment as Ego, Teni and Chike raised the roof with their musical performances. Ace, comedian, Seyi Law was also around to crack ribs.