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STB, fastest growing agent bank in Africa –Western Union

Posted by By TONY OSAUZO, Benin on 2005/07/07 | Views: 573 |

STB, fastest growing agent bank in Africa –Western Union


Western Union International has recognised Standard Trust Bank as the fastest-growing agent bank in Africa, Middle-East and Asia.

Western Union International has recognised Standard Trust Bank as the fastest-growing agent bank in Africa, Middle-East and Asia.
Managing Director of Standard Trust Bank Plc, Mr Tony Elumelu, announced this weekend, during the opening of two new branches of the bank at Auchi and Uromi in Edo State.

He also announced that the bank recently became a principal member of the internationally accepted Master Card credit-card and Maestro debit cards, adding that the product offering was consistent with the bank’s determination to actively promote a cashless society in Nigeria, while offering its cardholders a safe, convenient and affordable means of carrying out their payments globally.
Elumelu disclosed that Standard Trust Bank has entered into a partnership with Virgin Nigeria designed to bring travel services closer to all Nigerians by ensuring that Nigerian travelers can visit any of its designated branches to make their travel arrangements without the need to go to either the airport or Virgin Nigeria office.

He explained that the opening of the two new branches was informed by the need to fulfil promises made to friends of the bank to bring services closer to them and the fact that Nigeria remained under-banked, judging from billions of naira circulating outside the banking system.
Speaking on the occasion, Edo State deputy governor, Chief Mike Oghiadomhe called for a cash free economy to discourage armed robbery, just as he sued for sustained the economic activities to creat jobs for unemployed in the country.

He observed that the opening of seven branches of the bank in the state was indicative of the confident the banks management has in the state and in its people.
The deputy governor described the recent Paris Club reduction of Nigeria’s foreign debt as "a second independence," saying that it was a recognition of the economic policy of the Obasanjo administration.

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