Skye Bank Introduces New Funds Transfer Service


To further enhance trade and facilitate payment in the West African sub-region, Skye Bank has introduced a funds transfer service within its network of subsidiaries in Nigeria, The Gambia, Sierra Leone and Guinea.

The new funds transfer service, known as African Payment Service, is available in all the bank’s branches in Nigeria and countries where it has presence, and is open to both account and non-account holders.

Speaking at the formal launch of the service in Lagos on Thursday, the bank’s Group Managing Director/Chief Executive Officer, Mr Kehinde Durosinmi-Etti, said the new offer was convenient, secure, cost effective, fast and reliable, adding that the service enhanced the security of the transfer through the use of scratch cards.

According to him, the service which is a dollar denominated one, was devoid of exchange rate volatility and did not attract hidden charges.

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He noted that the service would help in promoting trade on the African continent, particularly along the West Africa sub-region.

On the benefits of the service to the customers, the bank chief said the risks associated with physical carrying of cash, as well as the possibility of theft and harassments by border guards, would be eliminated.

The Executive Director, South South/Retail Banking, Mrs Ibiye Ekong, said the new funds transfer service was an enhancement over the bank’s existing product known as Skye Flitcash, which is a local funds transfer service.

—Henry Ojelu

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