17th December, 2010
MasterCard Worldwide, a leading global payments company, in reaffirmation of its confidence in the Nigerian economy and in line with the Vision 2020 drive of the Federal Government of Nigeria, has selected Nigeria as its operational base for East & West Africa and Indian Ocean Islands.
MasterCard also announced the appointment of a Nigerian, Mr. Daniel ‘Lanre Monehin, as area head of its business operations for the stated regions with the aim of advancing its business and investment activities in sub-Saharan Africa.
Through this appointment, MasterCard has become the first global payments company to appoint an executive resource in Nigeria. MasterCard cards were the first 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 market not only in Nigeria but in all the regions under his administration in sub-Saharan Africa.
Having held senior positions at Fortune 500 companies and the Nigerian banking industry, Monehin has over 18 years of finance, consulting and relationship management experience spanning banking, manufacturing and distribution, technology and payment industries.
“I firmly believe that we are reaching a tipping point where African markets are quickly rolling out innovative payment systems, potentially leapfrogging the systems that have been in place in more developed markets for many years,” says Monehin.
“With dedicated and empowered resources on the ground in Nigeria for West & East Africa, and the Indian Ocean Islands area, MasterCard’s commitment to Africa has never been greater.”