Financial Inclusion: Airtel Africa Activates SmartCash PSB

Muyiwa Ebitanmi, the Chief Executive Officer of Airtel Africa SmartCash Payment Service Bank (PSB), has claimed that PSB will increase financial inclusion for all Nigerians.

Ebitanmi revealed the information to the press at the SmartCash PBS activation in Abuja.

Last week in Lagos, the Vice President, Prof. Yemi Osinbajo, and other significant players attended the official launch of SmartCash PSB.

In April, SmartCash, an Airtel subsidiary, announced that it has begun operations in Nigeria after receiving approval from the Central Bank of Nigeria (CBN) to operate as a Payment Service Bank (or "PSB").

Ebitanmi reassured that banking would be more convenient for Nigerians on both sides of the border with SmartCash PSB.

He continued by saying that the business had put in place a strong technical system to safeguard and secure customer transactions.

"Your phone is your bank, in his opinion. Anyone who owns a phone is welcome to establish a business relationship with SmartCash.

“Building a banking relationship with SmartCash is very easy, it is very secure and it is very simple.

“The key essence of SmartCash PSB is to come and bridge the financial gap in Nigeria. As you know, we have a lot of people in rural areas who are probably far from the cities and are reasonably excluded today.

“SmartCash service bank is highly secured, it is very safe, we operate business thinking about our customers,” he said.

He added that the safety of customers was the priority for SmartCash.

“Safety is the most important element in everything you do so, we continue to do businesses in a way that will safeguard the funds of the customers that place money with us.

“We are in Wuse Market Abuja just to sensitise people about SmartCash PSB.

“And we are trying to connect with every person on the street to let them know that SmartCash is the bank that is made for them”, he said.