Nigeria : Western Union, MoneyGram and the Nigerian Customer

Destee

destee.com
destee.com
Jan 22, 2001
36,113
9,996
betwixt and between
destee.com
Occupation
Website Consultant
Western Union, MoneyGram and the Nigerian customer
BY AMECHI OGBONNA
Thursday, January 25, 2007

Central Bank of Nigeria last week disclosed that the cumulative contributions of Nigerians in the Diaspora in 2006 was estimated at about $4.5billion.

Official statistics from the apex bank also showed that a large chunck of this inflow came in through the various international cash transmission companies operating in the country. This, for all intent and purposes, is a welcome development, as it contributed to the country’s economic growth in no small measure over the years.

Like in several industries, while there could be as many as 10 organisations currently engaged in the business, perhaps only two key players namely: Western Union and MoneyGram cash transfer services appear to have become household names in the nation’s financial setting as the others are still playing at the very fringe of the market.

From the look of things, First Bank of Nigeria Plc seems to be leading the consortium of banks flying the Western Union banner, while UBA Plc is leading the group of banks pitching on the MoneyGram platform.

Going by the volume of business and level of publicity campaign done by these organizations, no one is left in doubt that they have really enjoyed tremendous patronage from Nigerians within and outside the country, even when there exist an ample evidence to show that the cumulative effect of this relationship has helped several families meet some of their financial obligations at the home front.

For instance, it is on record that these inflows have assisted most families to build homes, in addition to providing on a regular basis for the upkeep of the relations and aged parents.

It is for this specialized service that some commentators believe that Western Union, MoneyGram and other cash remittance service companies can indeed, be said to have made significant contributions to the nation’s economy by facilitating the repatriation of funds from the Diaspora, even though they were always paid by consumers for such services.

Click Here To Read Entire Article

:heart:

Destee
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Thread starter Similar threads Forum Replies Date
cherryblossom Black Money Business Jobs : Patrick Gatson: President, Western Union Foundation Black Money Business Jobs 0
skuderjaymes Black People : Protest spread across the western world Black People Open Forum 31
Perfection Libya : In Context Series: Export Production in Western Libya, 1750-1793 Libya 0
nilevalley Black People : White western culture ageism disease has finally reached Africa. Black People Open Forum 5
BLAQ LOVE POURAHTREE Black Poetry : Outlaw: Four Corner of Western Politics Black Poetry - Get Your Flow On! 0
Clyde C Coger Jr African American History Culture : The story of 'Patton's Panthers,' the black WWII tank unit that crushed Nazi forces on the Western f African American History Culture 1
Djedefre African American History Culture : Can someone explain to me why the Greeks are considered the foundation of Western Civilization African American History Culture 15
jamesfrmphilly Black People Politics : no such thing as western civilization ? Black People Politics 0
RAPTOR Black People Politics : North Korean Documentary film about Western Propaganda Black People Politics 1
KingSango Black Relationships : Is there a Gay mafia or is Western Civilization gay? Black Relationships 46
J Black Sports : NBA Eastern and Western Conference playoffs Black Sports 40
S Black People : The Real Atlantis (Western Africa) Black People Open Forum 25
I Black People : Today's Western dress styles for females Black People Open Forum 6
skuderjaymes Audio Video Web Conferencing : Interesting North Korean Propaganda film about Western Propaganda. Audio Video Web Conferencing 7
Jahari Kavi Black People : The History of Sexual Perversion in Western Society Black People Open Forum 32
Destee Black People Politics : North Korean Television Counters "Western Imperialist Propaganda" - Reports on Poverty in America Black People Politics 2
skuderjaymes Black People Politics : Western complicity with Iraq before, during and after the Iraq-Iran war of 1979. Black People Politics 0
Amnat77 Nigeria : Cutaneous adornment in the Yoruba of south-western Nigeria – past and present Nigeria 1
Ankhur Zimbabwe : Challenging Western Distortions of Zimbabwe's Land Reform Zimbabwe 0
RAPTOR Black People : Why Western-style democracy is not suitable for Africa Black People Open Forum 7
M Black People : Western Privilege? Black People Open Forum 0
skuderjaymes Haiti : NEWS: Haiti had the 2nd highest econ. growth rate in the western hemisphere Pan-Africanism - African Diaspora 5
A Black Astrology : Comparing Sidereal to Western Astrology Black Astrology 28
hartwell African American History Culture : The Black Folks of Hawaii: Muurs of the Western Island – A Retrospect African American History Culture 0
Destee Dr. Llaila Afrika : Speaking on Western Medicine Black Health and Wellness 0
M Black Spirituality Religion : Know the Historical Origens of western Religions* Black Spirituality / Religion - General Discussion 15
Fine1952 Black Spirituality Religion : An African-Centered View Explodes Western Myths Black Spirituality / Religion - General Discussion 5
G Black People : Why & how the African child is miseducated in the western educational sys Black People Open Forum 0
D Pan Africanism : Royal 'Allah' vs Hadzabe 'Hine' vs Western Media 'God' African American History Culture 0
river Black People : Is This the Big Pay Back: Western World Threatened by Depleting Bee Population Black People Open Forum 2
OmowaleX Black Women : Do You Prefer African or "Western" Styles of Fashion? Black Women 39
Chief Elder Osiris Chief Elder Osiris : Arrogance Of Western Civilization Chief Elder Osiris 0
Chief Elder Osiris Chief Elder Osiris : Influence of Western Culture On Black People Chief Elder Osiris 0
Heartbeat Black Poetry : The Western Sun Black Poetry - Get Your Flow On! 4
Clyde C Coger Jr African American History Culture : Battle flag carried by black Union troops hits auction block African American History Culture 0
Perfection Mali : In Context Series: The Recurrent Security Crisis in Mali and the Role of the African Union Mali 0
Clyde C Coger Jr African American History Culture : The Ancestors Speak: A Conversation Between Former Slaves And Union General Sherman African American History Culture 1
Queenie Black People Politics : BREXIT - British Exit from European Union Black People Politics 88
Chidike Black People : Chicago Police Union Hires Cop Charged With Murdering Laquan McDonald Black People Open Forum 0
Liberty Black Education / Schools : Phoenix High School Seniors Face the Wrath for Human N-Word Collage; School’s Black Student Union We Black Education / Schools 0
Clyde C Coger Jr Africa : Why The African Union Should Be Dismantled And Buried With Gaddafi All Things Africa 0
OldSoul OldSoul : My African Union, My Voice OldSoul 0
Therious Black Sports : Northwestern Players Win Union Vote- Black Sports 2
jamesfrmphilly Black Entertainment : Gabrielle Union reveals ‘I’m on the porn diet’ Black Entertainment 3
jamesfrmphilly Black Sports : D wade is a new father…Union is not the mother Black Sports 16
Kemetstry Black Entertainment : WADE and UNION ENGAGED!!! Black Entertainment 22
Alarm Clock South Africa : South African Mineworkers Union Demands 60 Percent Pay Increase South Africa 0
Clyde C Coger Jr Black People Politics : Obama to refocus on economy in State of the Union Black People Politics 0
Knowledge Seed Black People : Tiny union obliterates 18,500 jobs Black People Open Forum 25
RAPTOR Black People Politics : As Obama Picks Up Union Endorsements, A Debate on Labor's Role in 2012 Campaign Black People Politics 0
Similar threads


















































Latest profile posts

$1 Billion Black dollars in 30 days
Destee wrote on Marcchris's profile.
Hi @Marcchris ... Welcome Welcome Welcome!!! :wave: ... Thanks for joining us AND becoming a Premium Member! :cheerleader: ... I am honored. Please make yourself right at home! Much Love and Peace.
Destee wrote on rhymebad's profile.
I Love You! :love:
Destee wrote on dunwiddat's profile.
Good to see you Sister! :cheerleader:
Kemetstry wrote on dunwiddat's profile.
Where have you been hiding ?
Top