Nigeria’s First Bank announced an agreement with global money transfer firm Trans-Fast Remittance LLC to create services that enable money transfers coming from abroad to be directly transferred to the bank, reported All Africa.
The companies reported the service would be expanded to other banks in the country, and First Bank would act as the channel of transfer.
“Trans-fast will contribute in fostering the Central Bank of Nigeria (CBN) cash-lite and financial inclusion policies, as the self-service money transfer service enables senders transfer money directly via the internet, eliminating the use of agents and allows beneficiaries of international money transfer get money directly into their accounts with any bank and in any currency, through First bank,” said Bisi Onasanya, group managing director and CEO at First Bank.
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