NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, November 21, 2014

Nigeria’s fourth largest bank, Access Bank Plc, has signed a deal with Airtel Nigeria that will see its mobile money service run on the network of the mobile operator. The collaboration is aimed at boosting financial inclusion in the country.

Group Managing Director of Access Bank, Mr. Herbert Wigwe said the mobile payment platform, Access Money, was introduced in line with the the financial inclusion initiative of the Central Bank of Nigeria (CBN).

“It is something that reaches new groups of people and helps them to build and grow the success stories of tomorrow. And it’s something we are proud to champion,” said Wigwe.

Customers, who sign up for the new service, will be able to use a mobile phone to pay for a wide range of services. Customers will also be able to do card-less withdrawals from any ATM machine owned by Access Bank or receive money through agents nationwide.