MoneyGram International and eTranzact Tuesday signed an agreement to enable PocketMoni customers in Nigeria to receive MoneyGram Money transfers from all over the world on their phones.
PocketMoni is an independent mobile wallet solution offered by eTranzact with more than 3,000 agent locations across the country providing cash-in, cash-out service to customers.
Both parties explained that the move was in line with efforts aimed at supporting the ongoing drive for financial inclusion by the Central Bank of Nigeria (CBN).
Source: Thisday
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This is a welcome development in Nigeria.
A colleague of my is an agent of etranzact operating in lagos, he has been harassed by some law enforcement agents several times on the grounds that he collects funds from the general public (public offering). In view of this, does an etranzact or paga agent require a covering from the securities and exchange comission (SEC)?
A colleague of mine in another area has also undergone such.
unlike portfolio managers, fund managers, dealers, investment advisors etc that requires licensing from SEC, i think these agents should also have some kind of covering from the regulatory agencies.