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eTranzact gets Central Bank of Nigeria’s nod on mobile money operations

One of Nigeria’s mobile and switching companies, eTranzact International Plc, has been awarded the final approval by the Central Bank of Nigeria, to commercially launch the Mobile Money operation.

The eTranzact Mobile Money is designed to allow users conduct financial transactions anywhere, anytime.

The service is aimed at bridging the gap between the banked and the unbanked.

Reacting to the development, General Manager, Mobile Payment of eTranzact, Mr. Patrick Eregie, said that "Mobile Money service has been specifically designed to give access to financial services for Nigerians in low banking coverage areas through the use of mobile phones and to create job opportunities for many Nigerians".

The mobile money service works on all the GSM networks, extending the capability of the user’s mobile phone into a highly- interactive feature-rich payment device.

Eregie said: "This service offers various options such as cash withdrawal, cash deposit, purchase airtime recharge cards, funds transfer (to bank accounts, cards and mobile phones) and bills payment (for Cable TVs, PHCN, school fees, health insurance scheme, etc).

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