Skye Bank Partners MoneyGram on Outbound Service Scheme

Skye Bank Plc, one of MoneyGram’s top agents in Nigeria, has extended the relationship with the launch of an outbound remittance service in the country.

With the launch, customers and other Nigerians can now send money to their family members and wards abroad.

Before the current initiative by the Central Bank of Nigeria (CBN) the country was on Receive-Only status and consumers in Nigeria could only receive funds sent from abroad through the MoneyGram transfer service. 

According to Skye Bank, the partnership is significant to both MoneyGram and Skye Bank business, because it enables their customers to send funds from Nigeria to family and friends around the globe in Naira at all Skye Bank branches, which can be received by the beneficiary in the currency of the receiving country.

The MoneyGram outbound service is available across all Skye Bank’s over 240 branches in Nigeria.

Prompt and efficient MoneyGram transfer services can also be accessed in its 50 dedicated money transfer centers across its network.

MoneyGram said it is focused on growing its presence in Africa through strategic relationships with agents like Skye Bank.

“Outbound remittances are a very important part of economic growth and financial inclusion in Nigeria and across Africa, and we look forward to supporting the country’s development.

“As Nigeria continues to position itself as an exciting market for growth, the provision of sound, safe and relevant financial services is imperative to ensure the country continues its rapid development. Skye Bank is very pleased with the strategic partnership with MoneyGram and we will work together to sustain and strengthen Nigeria’s financial linkages”, the bank said in a statement.

Skye Bank is one of the leading Banks in Nigeria and was recently classified as one of the eight systemically important banks’ by the Central Bank of Nigeria and recently acquired Mainstreet Bank Limited.