MoneyGram is celebrating over twenty years of successful business operations in Nigeria.
The company has experienced substantial growth since it started business in Nigeria, building a successful relationship with other major companies in Lagos.
The CEO of MoneyGram, Mr. Alex Holmes, announced that the company has hosted senior executives of the company to deliberate on how to consolidate the gains achieved.
In addition, Mr. Holmes handed out milestone marker awards to agents of the company to honor their hard work, growth and success achieved in Nigeria.
“We’re grateful for your longstanding commitment to MoneyGram, and for working with us to address a serious and relevant need that has faced Nigerians, which is transferring money to loved ones across the world, quickly, securely and conveniently. Our combined efforts have enabled us to not only expand alongside our customers’ increasing needs, but also have contributed to the growth of MoneyGram,” he said.
Currently, MoneyGram operates in Nigeria through 16 banks out of the 22 banks on the register of the Central Bank of Nigeria.
This translates into over 4500 locations in Nigeria, where customers receive and send money transfers.
As an indicator of its focus on sub-saharan Africa , MoneyGram is the only money transfer operator to have a regional office in Lagos.
In 2015 alone, $21 billion in remittances were received in Nigeria.
The World Bank estimates that nearly $34 billion in remittances will flow into Sub-Saharan Africa in 2016.