17th December, 2010
MasterCard Worldwide, a leading global payments company, in reaffirmation of itsÂ confidence in the Nigerian economy and in line with the Vision 2020 drive of theÂ Federal Government of Nigeria, has selected Nigeria as its operational base for EastÂ & West Africa and Indian Ocean Islands.
MasterCard also announced the appointment of a Nigerian, Mr. Daniel â€˜Lanre Monehin,Â as area head of its business operations for the stated regions with the aim ofÂ advancing its business and investment activities in sub-Saharan Africa.
Through this appointment, MasterCard has become the first global payments company toÂ appoint an executive resource in Nigeria. MasterCard cards were the firstÂ international payment cards issued by financial institutions in Nigeria in 2004.
The appointment of Monehin aims to fast track the growth of the payment card marketÂ not only in Nigeria but in all the regions under his administration in sub-SaharanÂ Africa.
Having held senior positions at Fortune 500 companies and the Nigerian bankingÂ industry, Monehin has over 18 years of finance, consulting and relationshipÂ management experience spanning banking, manufacturing and distribution, technologyÂ and payment industries.
â€œI firmly believe that we are reaching a tipping point where African markets areÂ quickly rolling out innovative payment systems, potentially leapfrogging the systemsÂ that have been in place in more developed markets for many years,” says Monehin.
â€œWith dedicated and empowered resources on the ground in Nigeria for West & EastÂ Africa, and the Indian Ocean Islands area, MasterCardâ€™s commitment to Africa hasÂ never been greater.”