Contact: Beryl Opondo
Phone: 303-716-6765
nchang@moneygram.com
UBA joins with MoneyGram to open Redshop in Benin, Nigeria
Minneapolis, Minn., Dec. 22, 2006 - United Bank for Africa Plc (UBA), Nigeria�s largest financial services institution, opened another MoneyGram dedicated center in Nigeria. The center, also called the MoneyGram Redshop, is a place where customers can go exclusively to receive money transferred to them from abroad through MoneyGram.
UBA, a long-time MoneyGram agent, opened the Redshop at an elaborate ceremony in early December in Benin City. The Benin Monarch, His Royal Majesty Oba Erediauwa 111, was represented by the traditional Prime Minister of the Benin Kingdom, Chief Sam Igbe, the Iyase of Benin, who formally declared the Redshop open for business. This brings to two the number of MoneyGram dedicated centers operated by UBA. The first center located at the Awolowo House at the heart of the central business district in Ikeja was opened in May this year.
The alliance between UBA and MoneyGram dates back almost one decade. Although MoneyGram services are available in all branches of UBA in Nigeria, the concept of the Redshop or dedicated outlet is to provide customers hassle free access to MoneyGram services.
At the event, UBA officials said the bank plans to open 10 additional branches in Benin. UBA has an expansive branch network of over 450 branches and several remote channels such at the automated teller machines (ATMs) located in over 1500 locations across Nigeria.
MoneyGram is an international money transfer company, providing money transfer services in over 104,000 locations in more than 170 countries and territories across the world. It is known for providing a safe, fast, reliable and affordable way to transfer money world wide.
About MoneyGram
MoneyGram is a leading global payment services company whose mission is to provide consumers with affordable, reliable and convenient payment services, including money transfer service. MoneyGram has been in business since 1940, with its headquarters located in Minneapolis, Minnesota, USA. MoneyGram�s international money transfer service allows consumers to safely send money around the world in as little as 10 minutes (subject to agent availability and hours of operation). The global network is comprised of approximately 92,000 MoneyGram money transfer agent locations in 170 countries and territories. The convenient and reliable network includes retailers, international post offices and financial institutions. For more information, please visit the company�s Web site at www.moneygram.com
About UBA Group
United Bank of Africa (UBA Group) is the product of a merger between Nigeria�s third and fifth largest banks, UBA and Standard Trust Bank Plc respectively, and Continental Trust Bank. The union was the first successful merger transaction in the history of the Nigerian banking sector. Today, the consolidated UBA is the largest financial services institution in West Africa with a balance sheet size in excess of $600 billion Naira and more than $5 million customer accounts. It has 428 business offices across Nigeria, as well as a presence in New York, Cayman Island and Ghana (where it has five business offices). For more information, visit the company�s Web site at www.ubagroup.com
