Ecobank Nigeria says it has entered into a strategic partnership with Transfast, a leading international provider of cross-border payments and remittance solutions, to ease the transfer of funds by expatriates across the world to Nigeria.
Under the partnership, Nigerians in diaspora can send money in local currency directly to beneficiary’s bank account 24/7 via any of Ecobank’s wide branch network. They can also pick up cash at more than 3,500 payout locations in Nigeria.
“This latest addition reinforces our commitment as a Bank to giving our customers access to world class service. Transfast has a pedigree for swift and excellent service delivery. This new addition is to give our customers a more robust option on our list of remittance products. We already have available to our customers Rapid Transfer, Western Union, Money Gram or Ria Money Transfer in any Ecobank location in the country,” said Tunde Kuponiyi, Head, Consumer Banking, Ecobank Nigeria, at the signing ceremony in Lagos.
For his part, the Director EMEAA, Transfast, Samir Vidhate, noted that the company understands the importance of remittances in Nigeria and due to this, Transfast is working on a daily-basis to increase awareness of its service to Nigerians in Diaspora. “We are committed to the region and will be closely partnering with banks for continued growth.”
It should be highlighted that a recent report from the World Bank, showed that remittances to Nigeria reached $35bn in 2016 compared to the $21bn in 2015.