International money transfer service WorldRemit announced on Tuesday it has formed a new partnership with First Bank of Nigeria Limited (First Bank) for instant money transfers to all First Bank accounts in Nigeria. According to WorldRemit, the collaboration considerably expands WorldRemit’s footprint in the country and allows its customers in over 50 countries to send money to First Bank accounts directly from their phones. The deal supports WorldRemit’s plan to serve 10 million customers connected to emerging markets by 2020.
While sharing more details about the partnership, Andrew Stewart, Regional Head of Middle East & Africa at WorldRemit, stated:
“We are delighted to be partnering with First Bank, one of Nigeria’s leading banks, to give its 14 million customers access to our best in class money transfer experience. Nigeria remains our largest and fastest growing market in Africa, and WorldRemit’s second biggest market globally. This is a key partnership in the country that will further support Nigeria’s transition from offline remittances to online, safer, faster and lower-cost money transfer methods.”
Abiodun Famuyiwa, Group Head of Products and Marketing Support at First Bank, also commented:
“The Bank is excited to be working WorldRemit in delivering swift digital remittances to its customers in Nigeria. This partnership is one of the numerous ways the Bank would continue to put customers first by leading the industry in the use of technology to provide safe, convenient and fast banking solutions”.
WorldRemit added that last year it became Arsenal FC’s first-ever online money transfer partner in a global sponsorship deal. The company’s customers have completed 1 million transfers every month from 50 countries to over 145 destinations. More than half of its transfers go to Africa.