Nigeria: First Bank and Etisalat partner on mobile banking services

First Bank of Nigeria Limited and Etisalat Nigeria have joined forces to offer mobile payment services to their customers, in a bid to support the government's cashless policy and drive financial inclusion.

The partnership involves FirstBank's Firstmonie Mobile Money and Etisalat easywallet, a SIM application solution.

The aim of the partnership is to promote the use of Firstmonie mobile money on the easywallet STK menu, according to a joint statement.

"With the easywallet, Etisalat subscribers can make financial transactions such as Peer-to-Peer transfers, Bills Payment and Airtime top-up, directly from their mobile device," said Etisalat Nigeria business director Lucas Dada.

Mobile banking has recorded a total of 15 million transactions since 2012, with 58 million subscribers. The total value of the transactions to date is N430 billion (€2 billion), according to figures from the central bank.