Nigeria: Cellulant, Agric bank to unveil mobile money services

Cellulant Corporation and Nigeria’s Bank of Agriculture are set to unveil a joint mobile money services aimed at driving business transaction in the agricultural sector .
According to a statement by the firm on Tuesday, Cellulant Corporation, a value-adding services firm operating in Nigeria and other African countries, is currently implementing the electronic wallet scheme of the Federal Ministry of Agriculture under which farm inputs are distributed to farmers.

Bank of Agriculture is a Federal Government-owned development bank with a mandate to provide low-cost credit to small holders and commercial farmers, and small and medium rural enterprises.
The statement said the mobile money service plan had already reached advanced stages.

The scheme is expected to impact a lot of farmers in the country and to help government to achieve its desire of getting more farmers to access financial support that government has set in place in conjunction with many banks and other financial institutions.

It will be recalled that Cellulant Corporation has been in the forefront of implementing many value-added services using mobile networks.
Already, over one million farmers have benefitted from electronic wallet scheme of the government as subsidised fertilisers and seedlings that government have been battling over the years to deliver to farmers have been done easily since last year.

Commenting on the scheme, the Chief Executive Officer, Cellulant Nigeria, Mr. Goke Akinboro, said the firm was working on its mobile money service and it intended to impact the agricultural sector where it had already been playing a leading role in recent times.

He said, “We have been working very hard on our mobile money services and our focus is to ensure that areas where we already have the necessary competence and influence receive proper attention from us in terms of service delivery. Soon, we will come up with our plans and we believe that all Nigerians will be proud and happy at what we will be offering the masses.”
With the new mobile money service, Bank of Agriculture is expected to meet its mandate of providing micro financing to small and medium scale non agricultural enterprises.