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50,000 Xpress Points will be established in 2019 – Ecobank Nigeria MD

Managing Director, Ecobank Nigeria, Patrick Akinwuntan.
Managing Director, Ecobank Nigeria, Patrick Akinwuntan.

The Managing Director of Ecobank Nigeria, Patrick Akinwuntan, has disclosed that the bank has concluded plans to expand its agent banking locations tagged ‘Ecobank Xpress Point’ to 50,000 before the end of this year to bring banking operations closer to Nigerians.

Akinwuntan disclosed this during a media chat with journalists in Lagos.

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He said the move is in line with the vision of the pan-African bank to ensure financial inclusion of all Nigerians.

He said the bank currently has 400 physical locations in Nigeria aimed at ensuring that every household have access to Ecobank services.

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“We have presence in every state in Nigeria. We have a customer base of 9 million in Nigeria, with 400 branches.

“More interestingly, we have more than 4,000 agency locations known as Ecobank Xpress Point, which is our approach to bringing banking to every neighbourhood.

“Our ambition is to have 50,000 of such locations this year such that in every neighbourhood you can access Ecobank Xpress point to do cash deposit, withdrawal and actually make it more convenient for customers to open an account, get an instant card and participate in financial economy.

“Across the group, we have about 4,000 ATMs. In Nigeria, we have 2,000 ATMs and we are still expanding the ATM network,” he said.

Akinwuntan noted the bank has recorded many firsts in the banking industry revolution, saying the introduction of EcobankPay is one of them.

He said: “we have introduced EcobankPay which has brought together all three QR codes available in the country on one platform.

“EcobankPay accepts and make payment with MasterPass, MVisa and MCash. You can have 100 QR codes at no additional cost. You don’t require different number, just one number and you are able to transact.

“We bringing this digital solution into the economy will enable small businesses to participate more effectively, enables faster savings, reduces risk of insecurity.”

The Ecobank Nigeria boss said the bank would soon launch its enlightenment campaign about its POS, EcobankPay, Express Point, ATMs, Ecobank Omni, and Ecobank Omnilites in markets and households to enable people interact with the products.


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