Skye Bank Plc, one of MoneyGram’s top agents in Nigeria said it has extended its relationship with the money transfer service company with the launch of an outbound remittance service in Nigeria.

With the launch of the product, customers and other Nigerians can now send money to their family members and wards abroad. Until the third quarter of the year, Nigeria was a receive - only country and consumers in the country could only receive funds sent from abroad through the MoneyGram money transfer service.

According to a statement from the bank, the partnership is significant to both organisations because it enables customers to send funds from Nigeria to family and friends around the globe in naira at all Skye Bank branches which can then be picked up by the beneficiary in the currency of the receiving country.

The MoneyGram outbound service is available across all Skye Banks branches in Nigeria.

"Prompt and efficient MoneyGram transfer services can also be accessed in its 50 dedicated money transfer centres across its network including key locations like Niger House, Marina Lagos; Benin, Ibadan and Enugu. MoneyGram is focused on growing its presence in Africa through strategic relationships with its agents.

"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," it added.
“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 added

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 (CBN). It recently won the bid to acquire Mainstreet Bank Limited and has gone ahead to make full payment for the acquisition.