Ecobank Nigeria to support families using mobile money payment system

Ecobank gabrielmillaireEcobank Nigeria will use a mobile money platform which aims to improve the lives of poorer families in Nigeria. (Image source: gabrielmillaire)Ecobank Nigeria will join forces with Nigeria's senior special assistant to the president's office to provide support to poorer families in the country

Ecobank’s managing director, Jibril Aku, recently spoke of the new partnership saying that the bank will issue US$38.3mn through Ecobank's new mobile money platform to achieve the millennium development goals concerning the Conditional Cash Transfer (CCT) Scheme.

The 12 month plan would see funds released to more than 56,000 households in 600 communities, according to Aku.

“The countdown strategy as a catalytic policy of attaining the MDGs in the country, is closely linked with the government’s transformation agenda; the motive force for socio-economic transformation with the focus of making Nigeria one of the leading economies in the world by year 2020,” said a statement released by Ecobank.

The bank has set-up agent points in 600 communities and local government regions across 24 states states in Nigeria; Abia, Adamawa, Anambra, Akwa Ibom, Bauchi, Bayelsa, Borno, Delta, Ebonyi, Edo, Ekiti, Enugu, Jigawa, Kano, Kebbi, Kwara, Niger, Ogun, Osun, Oyo, Plateau, Sokoto, Yobe and FCT and Abuja.

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