It was a jubilation galore in Owerri, the capital city of Imo State, as “underbanked” and “unbanked” residents, on Wednesday, got relieved with the launch of Momo Agent financial services by Y’ello Digital Financial Services (YDFS) Limited, a subsidiary of MTN Nigeria, at the popular Relief Market.

Other markets in the State where the launch will also take place include, World Bank Market and Naze Cluster Market on November 7, and November 8, 2019, respectively.

Last of several regional launch and sensitisation events that has seen both YDFS and MTN Nigeria officials visit markets in Lagos, Port Harcourt, Ibadan and Kano, the Owerri event comes more than a month after the official launch in Abuja on August 29, 2019.

A pioneering initiative in the Telecoms sector by Nigeria’s leading operator, the MoMo Agent service aims to support the Central Bank of Nigeria’s drive for financial inclusion, by providing safe and accessible money transfer to millions of Nigeria’s unbanked.

Speaking during the MoMo Agent launch and sensitisation event at the Relief Market, Innocent Entonu, General Manager, Eastern Regional Operations, MTN Nigeria, underscoring the uniqueness of the mobile money service to the CBN financial inclusion drive, said the reception of the MoMo Agent by the residents of Imo State has been impressive.

“As you’re aware, the MoMo Agent is already being utilised by the people of Imo, and so this launch and sensitisation event is to officially introduce the product and also inform the larger Imo populace of our presence. And like we’ve done in other regions across the country, our goal remains to partner the CBN to increase the apex banks financial inclusion drive,” Entonu said.

Also speaking on the reception of the MoMo Agent by the people across the State, Daniel Orobiyi, Activation Manager, Mobile Financial Services, YDFSL, said there were over a thousand registered MoMo Agents and counting in the state.

Same as happened in the other States, in Owerri, traders were signed up as MoMo Agents as customers carried out on-the-spot transactions, and were treated to impressive musical performance and gifted several household items via a raffle draw.

The idea behind the regional launch and sensitisation event is part of the YDFS’s mission to put financial services within easy reach of every bankable Nigerian. With the MoMo Agent service complementing existing banking services via extending access to simple money transfer services and other financial services nationwide, the subsidiary plans on rolling out about 500,000 agents across Nigeria, as well as the Federal Capital Territory (FCT) Abuja.

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