Ecobank, MFB Partner On International Money Transfer

Ecobank Nigeria Ltd and Accion Microfinance Bank have entered into a partnership for collection of remittances through Western Union Transfer to customers.
The Deputy Managing Director of Ecobank, Tony Okpanachi, said at the launch in Lagos yesterday that the partnership would enable those in 40 branches of Accion Microfinance Bank nationwide access remittances with ease.
“It is the part of agency banking which the Ecobank pioneered in the country and we believe the partnership will be beneficial to the customers of both banks.
“The collaboration will enhance the financial programme championed by the Central Bank of Nigeria (CBN) and encourage customers in microfinance sector to embrace formal and internet banking.
“Since the establishment of the bank in 1986, the Western Union Transfer has created a mutual beneficial partnership through its over 480 branches globally,’’ he said.
Okpanachi said Accion Microfinance Bank customers, through the partnership, could use Ecobank’s Automated Teller Machines nationwide.
The Managing Director, Accion Microfinance Bank, Mrs Olubunmi Lawanson, said the collaboration was part of  the management’s efforts to enable its customers get more valued services.
“ For Accion, the collaboration is a major milestone and it will be a major catalyst in expanding the frontiers of financial inclusion to more entrepreneurs in micro-credit sector.
The Tide source said that Accion Microfinance Bank was established in 2007 and was granted national licence in 2015. It currently operates in 15 states.